Natural Gas, WTI Oil, Brent Oil – Oil Rebounds After Pullback

Key Insights

• Natural gas settled below the $2.50 level and continues to move lower. 
• WTI oil rebounded towards the $77 level. 
• Brent oil made an attempt to settle above the $83 level. 

Natural Gas

Natural gas remains under pressure amid lack of positive catalysts. Currently, natural gas is trying to settle below the $2.50 level. In case this attempt is successful, natural gas will move towards the next support level, which is located at $2.35.

WTI Oil

WTI oil rebounded towards the $77 level as traders used the recent pullback as an opportunity to increase their long positions. U.S. dollar has lost ground against a broad basket of currencies while Treasury yields suffered a strong pullback, which was bullish for oil markets.

Brent Oil

Brent oil gained upside momentum and moved towards the $83 level. RSI remains in the moderate territory, and there is plenty of room to gain additional momentum in case the right catalysts emerge. A move above the $83 level will open the way to the test of the resistance at the 50 EMA at $84.

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