Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Moves Lower On Profit-Taking

Natural Gas

Natural gas is moving higher as traders prepare for the Arctic blast on January 19 – January 24, which is expected to boost demand.

If natural gas manages to settle above the resistance at $3.95 – $4.00, it will move towards the next resistance level at $4.25 – $4.30.

WTI Oil

WTI oil pulls back as traders take some profits off the table after the strong rally, which was triggered by new sanctions on the Russian oil industry.

From the technical point of view, WTI oil needs to stay above the support at $77.00 – $77.50 to have a chance to gain additional upside momentum in the near term.

Brent Oil

Brent oil did not manage to settle above the resistance level at $81.00 – $81.50 and pulled back.

If Brent oil climbs above the $81.50 level, it will head towards the next resistance level, which is located in the $84.00 – $84.50 range.

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