Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Mixed Amid Profit-Taking

Key Insights

• Natural gas is gaining ground ahead of the weekend. 
• WTI oil is mostly flat as traders wait for additional catalysts. 
• Brent oil settled near the $76.50 level. 

Natural Gas

Natural gas rebounds as traders bet that demand will increase closer to the end of the year.

In case natural gas stays above the $2.45 level, it will move towards the next resistance at $2.60 – $2.65.

WTI Oil

WTI oil is swinging between gains and losses as traders take some profits off the table after the recent rebound.

The nearest significant resistance level for WTI oil is located in the $73.00 – $74.00 range. A move above $74.00 will push WTI oil towards the resistance at $79.00 – $80.00.

Brent Oil

Brent oil is mostly flat as U.S. dollar’s rebound puts some pressure on commodity markets.

RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

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