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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Gains Ground As Traders Stay Bullish
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Key Points:
- Natural gas traders switched to April contract.
- WTI oil moved above the $78.00 level as traders remained focused on the Middle East.
- Brent oil did not manage to gain momentum in today's trading session.
Natural Gas
Natural gas settled above the $1.80 level as traders switched to April contract. It looks that natural gas found a bottom near the support at $1.60 – $1.65.
From the technical point of view, natural gas is moving towards the nearest resistance at $1.95 – $2.00.
WTI Oil
WTI oil moved higher as traders focused on negotiations about a potential Gaza ceasefire.
The technical picture remains unchanged as WTI oil needs to settle above the key resistance at $79.00 – $80.00 to gain additional momentum.
Brent Oil
Brent oil remained stuck near the $82.00 level as traders evaluated the recent news from the Middle East.
Brent oil has been trading in a range for several weeks. At this point, oil markets need additional catalysts to gain momentum.
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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