Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds On Rate Cut Hopes

Natural Gas

Natural gas is mostly flat as traders wait for additional catalysts. The weather forecasts are rather bearish, but current demand for natural gas is high.

The technical picture has not changed in recent trading sessions. Natural gas needs to climb above $1.80 to gain momentum and move towards the resistance at $1.95 – $2.00.

WTI Oil

WTI oil gains ground as weaker-than-expected U.S. PMI reports boost hopes for rate cuts. U.S. dollar’s pullback provided additional support to commodity markets in today’s trading session.

In case WTI oil climbs above $83.50, it will head towards the nearest resistance at $85.50 – $86.50.

Brent Oil

Brent oil has also managed to gain momentum amid a broad rally in the oil markets.

The nearest resistance for Brent oil is located in the $89.00 – $90.00 range. A move above $90.00 will provide Brent oil with a chance to gain additional upside momentum.

For a look at all of today’s economic events, check out our economic calendar.