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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounded From Session Lows
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Key Points:
- Natural gas attempts to rebound after the recent pullback.
- WTI oil moved away from session lows despite tariff threats.
- Brent oil tested new lows but lost momentum and moved back above the $76.00 level.
Natural Gas
Natural gas found support near the $3.00 level and is trying to rebound after the pullback.
In case natural gas settles back above the $3.10 level, it will head towards the nearest resistance, which is located in the $3.20 – $3.25 range.
WTI Oil
WTI oil managed to move away from session lows despite worries about the impact of potential tariffs on Canada and Mexico.
In case WTI oil manages to settle back above the $73.50 level, it will have a chance to gain additional upside momentum and move towards the $75.00 level.
Brent Oil
Brent oil tested new lows as traders remained focused on tariff threats. RSI is in the moderate territory, and there is plenty of room to gain momentum in the near term.
If Brent oil declines below the 50 MA at $75.29, it will move towards the next support level, which is located in the $71.00 – $71.50 range.
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.
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