Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back 4% As Israel And Iran Agree To Cease Fire
By:
Key Points:
- Natural gas attempts to settle below the $3.55 level.
- WTI oil pulled back below the $65.00 level amid ceasefire between Israel and Iran.
- Brent oil declined towards the $67.00 level.
Natural Gas
Natural gas tests new lows as traders focus on the situation in global markets. Prices are moving lower due to ceasefire in the Middle East, which means that demand for U.S. LNG may fall.
In case natural gas stays below the support at $3.60 – $3.65, it will head towards the next support level at $3.35 – $3.40.
WTI Oil
WTI oil tests new lows as traders react to surprising developments in the Middle East. Geopolitical premium declined as Israel and Iran agreed to cease fire after 12 days of fighting.
A move below the 50 MA at $63.69 will open the way to the test of the support level at $62.00 – $62.50.
Brent Oil
Brent oil tests support at $67.50 – $68.00 amid strong pullback in the oil markets.
In case this test is successful, Brent oil will head towards the next support level at $63.50 – $64.00.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Vladimir Zernovauthor
In more than 15 years of trading in the financial markets, Vladimir dealt with a wide range of brokers and financial instruments. His career as a day-trader at a proprietary trading firm goes back to 2007. Later, Vladimir turned to longer time frames and became an independent trader and analyst managing his own portfolio. Using his experience, he helps traders find the best broker in his reviews.
Advertisement