Natural Gas and Oil Forecast: OPEC+ Cuts Bolster Prices, NG Up Nearly 5% to $2.70

Natural Gas (NG) is currently priced at $2.71, up 4.79% in the 4-hour timeframe. The key pivot point is at $2.68. Immediate resistance levels are at $2.79, $2.85, and $2.92.

On the support side, immediate support is at $2.62, with further support at $2.54 and $2.48. The 50-day Exponential Moving Average (EMA) is at $2.61, while the 200-day EMA is at $2.33.

The outlook is bullish above $2.68, but a break below this level could trigger a sharp selling trend.

WTI Oil Price Forecast

USOIL is currently priced at $77.12, reflecting a decline of 0.89%. The chart timeframe is 4-hour, with key price levels indicating a pivot point at $77.49. Immediate resistance levels are at $78.58, followed by $79.36 and $80.53. On the support side, the immediate level is $76.16, with further support at $75.11 and $74.31.

Technical indicators show the 50-day Exponential Moving Average (EMA) at $78.43 and the 200-day EMA at $79.58. USOIL maintains a bearish outlook below the pivot point of $77.49. A break above this level could signal a bullish trend, while a continued decline would reinforce the bearish sentiment.