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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Ahead Of The Weekend
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Key Points:
- Natural gas tests support at $3.95 - $4.00.
- WTI oil pulled back as traders waited for additional positive catalysts.
- Brent oil declined below the $81.00 level.
Natural Gas
Natural gas pulls back after an unsuccessful attempt to settle above the resistance level at $4.25 – $4.30.
In case natural gas manages to settle below the support at $3.95 – $4.00, it will move towards the next support level, which is located in the $3.55 – $3.60 range.
WTI Oil
WTI oil is losing ground as the oil market continues to stabilize after the recent rally.
A move below the support at $77.00 – $77.50 will provide WTI oil with a chance to gain additional downside momentum.
Brent Oil
Brent oil is moving lower amid broad pullback in the oil markets. The strong economic data from China did not provide support to oil prices in today’s trading session.
A move below the psychologically important $80.00 level will open the way to the test of the support level at $77.00 – $77.50.
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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