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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds At The Start Of The Week
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Key Points:
- Natural gas is moving higher as traders take profits after the strong pullback.
- WTI oil moved above the psychologically important $70.00 level.
- Brent oil is trying to settle back above the $74.00 level.
In this article:
Natural Gas
Natural gas rebounds from recent lows as traders take some profits off the table after the strong pullback.
A move above the $2.30 level will open the way to the test of the nearest resistance at $2.40 – $2.45.
WTI Oil
WTI oil gains ground at the start of the week as traders wait for additional catalysts and stay focused on the situation in the Middle East.
If WTI oil moves above the $71.00 level, it will head towards the nearest resistance at $72.00 – $72.50.
Brent Oil
Brent oil received support near the $73.00 level and is trying to settle back above $74.00.
In case this attempt is successful, Brent oil will move towards the 50 MA at $75.63.
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 and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.
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