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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds After Sell-Off
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Key Points:
- Natural gas tests resistance at $2.85 - $2.90.
- WTI oil gained some ground after the recent sell-off.
- Brent oil is trying to settle back above the $72.00 level.
In this article:
Natural Gas
Natural gas tests new highs as traders focus on the impact of Hurricane Helene. Demand is expected to stay low, but bulls are ready to test the resistance at $2.85 – $2.90.
In case natural gas settles above the $2.90 level, it will move towards the next resistance level at $3.05 – $3.10.
WTI Oil
WTI oil is trying to rebound after the recent sell-off. From a big picture point of view, traders will stay worried about potential changes in OPEC+ production policy.
If WTI oil manages to settle back above the $68.50 level, it will head towards the resistance at $72.00 – $72.50 range.
Brent Oil
Brent oil is also moving higher as some traders are ready to bet on a rebound from current levels.
From the technical point of view, Brent oil needs to settle back above the resistance at $72.50 – $73.00 to have a chance to gain sustainable upside momentum in the near term.
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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