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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests Multi-Week Highs As Rally Continues
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Key Points:
- Natural gas rebounds after the recent pullback.
- WTI oil climbed above the $81.00 level.
- Brent oil is trying to settle above the resistance at $85.00.
Natural Gas
Natural gas rebounds as traders use the recent pullback as an opportunity to increase their long positions. The current demand for natural gas remains high due to hot weather.
In case natural gas settles above the $2.90 level, it will move towards the resistance at $3.02 – $3.09.
WTI Oil
WTI oil tests new highs as rally continues. Traders bet on rising demand during the summer season.
In case WTI oil stays above the $80.00 level, it will head towards the next resistance at $83.50 – $84.50.
Brent Oil
Brent oil tests resistance at $84.50 – $85.00 as traders stay bullish. Falling Treasury yields provide additional support to oil markets in today’s trading session.
In case Brent oil moves above the $85.00 level, it will head towards the resistance at $88.00 – $89.00.
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, 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.
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