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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As Traders Stays Focused On The Middle East
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Key Points:
- Natural gas rebounds ahead of the weekend.
- WTI oil tests new highs as rally continues.
- Brent oil climbed above the $91.50 level.
Natural Gas
Natural gas is moving higher ahead of the weekend. Current demand for natural gas is high, although it is expected to decline in the next week.
From the technical point of view, natural gas remains stuck between the support at $1.65 and the resistance at $1.95.
WTI Oil
WTI oil tests new highs amid worries about the situation in the Middle East. Traders are waiting for Iran’s moves after the recent strike on its consulate in Syria.
WTI oil has recently managed to climb above the resistance at $85.50 – $86.50, which is a bullish sign.
Brent Oil
Brent oil is also moving higher amid rising tensions in the Middle East. Bulls bet that Iran may do something over the weekend.
RSI is in the overbought territory, but the current bullish trend stays strong. However, the risks of a pullback are increasing.
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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