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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Prices Move Higher Ahead Of The Weekend
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Key Points:
- Natural gas received strong support in the $4.00 - $4.05 range.
- WTI oil gained some ground as traders focused on geopolitical developments.
- Brent oil is moving towards the $71.00 level.
Natural Gas
Natural gas continues its attempts to rebound after the recent pullback, which was triggered by bearish weather forecasts.
A move above the $4.15 level will push natural gas towards the next resistance level at $4.25 – $4.30.
WTI Oil
WTI oil settled near the $67.00 level as traders evaluated negotiations about potential ceasefire between Russia and Ukraine.
The technical picture remains unchanged as 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 gains some ground ahead of the weekend as traders wait for additional catalysts.
A move above the resistance at $71.00 – $71.50 will provide Brent oil with an opportunity to gain additional upside momentum.
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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