Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Markets Pull Back Ahead Of The Weekend

Natural Gas

Natural gas tests new highs as rally continues. Traders focus on Arctic blast forecast, which is bullish for natural gas.

In case natural gas manages to settle above the $3.80 level, it will head towards the nearest resistance at $4.00 – $4.05.

WTI Oil

WTI oil pulled back as traders reacted to the weaker-than-expected Retail Sales report from the U.S. and worried about the potential slowdown of the economy.

In case WTI oil manages to settle below the psychologically important $70.00 level, it will move towards the next support level at $67.00 – $67.50.

Brent Oil

Brent oil declined below the $75.00 level amid broad pullback in the oil markets.

If Brent oil stays below the $75.00 level, it will move towards the recent lows near $74.00. RSI is in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.

For a look at all of today’s economic events, check out our economic calendar.