Natural gas attempts to rebound after yesterday’s sell-off, which was triggered by the disappointing EIA report.
If natural gas climbs above the $4.05 level, it will move towards the resistance level at $4.25 – $4.30.
WTI Oil
WTI Oil 210325 Daily Chart
WTI oil rebounded from session lows as traders remained focused on new Iran-related sanctions and OPEC+ plans to cut output for members who have previously exceeded their quotas.
If WTI oil settles above recent highs at $68.70, it will move towards the psychologically important $70.00 level.
Brent Oil
Brent Oil 210325 Daily Chart
Brent oil managed to climb back above the $72.00 level as traders remained bullish ahead of the weekend.
In case Brent oil settles above $72.00, it will head towards the 50 MA at $74.84.
For a look at all of today’s economic events, check out our economic calendar.
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.