Natural gas is mostly flat amid lack of positive catalysts. From the technical point of view, natural gas is moving towards the support at $3.70 – $3.75.
A move below the $3.70 level will push natural gas towards the next support at $3.35 – $3.40.
WTI Oil
Brent Oil 260325 Daily Chart
WTI oil gains ground as traders react to the EIA report, which showed that crude inventories declined by 3.3 million barrels from the previous week.
If WTI oil climbs above the 50 MA at $71.02, it will head towards the resistance at $73.00 – $73.50.
Brent Oil
Brent Oil 260325 Daily Chart
Brent oil is moving higher amid worries about supplies from Venezuela. U.S. will impose 25% tariffs on countries that buy Venezuelan oil.
A move above the 50 MA at $74.36 will open the way to the test of the resistance at $77.00 – $77.50.
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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.