Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Gains 3% As U.S. Sends Submarine To Middle East

Natural Gas

Natural gas tested new highs as the rebound continued. Traders focused on favorable weather forecasts and continuation of the rally in the European natural gas markets.

In case natural gas settles above the resistance at $2.25 – $2.30, it will move towards the next resistance level at $2.45 – $2.50.

WTI Oil

WTI oil rallies as traders focus on the conflict in the Middle East. U.S. announced that it was sending a submarine to the region as it continued to prepare for potential attacks on Israel by Iran or Hezbollah.

A successful test of the resistance at $79.00 – $80.00 will push WTI oil towards the next resistance level at $84.00 – $84.50.

Brent Oil

Brent oil gained strong upside momentum amid broad rally in the oil markets. RSI remains in the moderate territory, so there is plenty of room to gain momentum in case the right catalysts emerge.

A move above the $82.00 level will open the way to the test of the resistance at $87.00 – $88.00.

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