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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground Despite Concern Over Trade Wars
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Key Points:
- Natural gas managed to settle above the $3.50 level.
- WTI oil moved above the $72.00 level as traders bet on a rebound from multi-week lows.
- Brent oil climbed above the $75.00 level.
Natural Gas
Natural gas gains ground as traders react to colder weather and bet on rising demand.
From the technical point of view, natural gas is heading towards the nearest resistance level, which is located in the $3.55 – $3.60 range.
WTI Oil
WTI oil rebounds despite worries about tariffs. It looks that recent sanctions on Iran provide additional support to the market.
If WTI oil settles above the 50 MA at $72.35, it will get to the test of the nearest resistance level at $73.00 – $73.50.
Brent Oil
Brent oil gained strong upside momentum amid broad rally in the oil markets.
A move above the 50 MA at $75.62 will open the way to the test of the nearest resistance level at $77.00 – $77.50.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
Vladimir is an independent trader, with over 18 years of experience in the financial markets. His expertise spans a wide range of instruments like stocks, futures, forex, indices, and commodities, forecasting both long-term and short-term market movements.
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