Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Dollar Rebounds

Natural Gas

Natural gas tested new highs but lost momentum and pulled back as traders rushed to take profits off the table after the strong rally.

In case natural gas settles back below the support at $3.55 – $3.60, it will head towards the next support level at $3.20 – $3.25.

WTI Oil

WTI oil is losing ground as traders focus on the continuation of U.S. dollar’s rally and react to rising Treasury yields.

If WTI oil settles below the $69.00 level, it will head towards the support level at $67.00 – $67.50.

Brent Oil

Brent oil is losing ground amid demand worries. It remains to be seen whether traders are ready for big moves ahead of Christmas.

From the technical point of view, Brent oil needs to settle below the support at $71.00 – $71.50 to gain additional downside momentum.

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