Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounded From Session Lows

By:

Vladimir Zernov

Published: Jan 31, 2025, 19:05 GMT+00:00

Key Points:

Natural gas attempts to rebound after the recent pullback.
WTI oil moved away from session lows despite tariff threats.
Brent oil tested new lows but lost momentum and moved back above the $76.00 level.

Natural Gas

Natural Gas 310125 Daily Chart

Natural gas found support near the $3.00 level and is trying to rebound after the pullback.

In case natural gas settles back above the $3.10 level, it will head towards the nearest resistance, which is located in the $3.20 – $3.25 range.

WTI Oil

WTI Oil 310125 Daily Chart

WTI oil managed to move away from session lows despite worries about the impact of potential tariffs on Canada and Mexico.

In case WTI oil manages to settle back above the $73.50 level, it will have a chance to gain additional upside momentum and move towards the $75.00 level.

Brent Oil

Brent Oil 310125 Daily Chart

Brent oil tested new lows as traders remained focused on tariff threats. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.

If Brent oil declines below the 50 MA at $75.29, it will move towards the next support level, which is located in the $71.00 – $71.50 range.

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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.