Natural gas gains some ground as traders stay focused on the bullish EIA report, which was released on Thursday.
If natural gas climbs above the $2.15 level, it will move towards the resistance at $2.25 – $2.30.
WTI Oil
WTI Oil 190724 Daily Chart
WTI oil is losing ground as traders focus on the major IT outage, which caused disruptions in various industries.
A move below the support at $79.00 – $80.00 will push WTI oil towards the next support level at $75.50 – $76.50.
Brent Oil
Brent Oil 190724 Daily Chart
Brent oil is losing ground as traders stay focused on potential problems of China’s economy.
From the technical point of view, Brent oil settled below the support at $84.50 – $85.00 and is moving towards the next support level at $81.50 – $82.00.
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Vladimir is an independent trader and analyst with over 10 years of experience in the financial markets. He is a specialist in stocks, futures, Forex, indices, and commodities areas using long-term positional trading and swing trading.