Market Overview
Oil prices regained ground on Monday, bolstered by political uncertainties in the U.S. and the Middle East, which offset the downward pressure from a stronger dollar and weak demand in China.
The failed assassination attempt on U.S. presidential candidate Donald Trump increased market anxiety, while stalled Gaza conflict talks and an Israeli attack kept geopolitical risks high. Supply cuts from OPEC+ and Iraq’s commitment to compensate for overproduction further supported prices.
However, weak crude imports and refining throughput in China raised concerns about global demand, countering the positive impact of robust summer consumption in the U.S.
Natural Gas Price Forecast
Natural Gas (NG) is currently trading at $2.257, down 2.33%. On the 2-hour chart, the pivot point is at $2.25. Immediate resistance levels are $2.30, $2.35, and $2.39. Support levels are $2.22, $2.19, and $2.15.
Technical indicators show the 50-day Exponential Moving Average (EMA) at $2.32 and the 200-day EMA at $2.48, indicating a bearish trend as prices remain below these averages. \The outlook remains bullish above $2.25. However, a break below this level could trigger significant selling pressure.
WTI Oil Price Forecast
USOIL is currently trading at $82.38, up 0.28%. On the 2-hour chart, the pivot point is at $82.09. Immediate resistance levels are $82.77, $83.23, and $83.72. Support levels are $81.62, $80.92, and $80.46.
Natural Gas Price Forecast
Every new Natural Gas analysis as it publishes, today's technical signal and key levels, live price — on one page.
See all Natural Gas forecastsTechnical indicators show the 50-day Exponential Moving Average (EMA) at $82.51 and the 200-day EMA at $81.85, indicating a bullish trend as long as prices remain above the pivot point.
The outlook remains bullish above $82.09, but a break below this level could trigger significant selling pressure.
Brent Oil Price Forecast
UKOIL is currently trading at $85.14, down 0.21%. On the 2-hour chart, the pivot point is at $85.18. Immediate resistance levels are $85.87, $86.44, and $87.01. Support levels are $84.61, $84.11, and $83.68.
Technical indicators show the 50-day Exponential Moving Average (EMA) at $85.47 and the 200-day EMA at $85.17, suggesting a bullish trend as long as prices stay above the pivot point.
The outlook remains bullish above $84.61. However, a break below this level could trigger significant selling pressure.
