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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Attempt To Rebound
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Key Points:
- Natural gas remains stuck below the resistance at $4.55 - $4.60.
- WTI oil moved higher as traders bought the dip.
- Brent oil climbed back above the $69.00 level.
Natural Gas
Natural gas made another attempt to settle above the resistance at $4.55 – $4.60 but lost momentum and pulled back.
A move below the $4.40 level will push natural gas towards the nearest support level at $4.25- $4.30.
WTI Oil
WTI oil attempts to rebound from multi-month lows, although traders stay cautious amid trade wars.
From the technical point of view, WTI oil needs to settle back above the $67.50 level to have a chance to gain sustainable upside momentum in the near term.
Brent Oil
Brent oil climbed back above the $69.00 level as some traders were ready to bet on a rebound.
A move above the $70.00 level will open the way to the test of the resistance at $71.00 – $71.50.
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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