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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests Multi-Week Lows
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Key Points:
- Natural gas rebounds after yesterday's pullback.
- WTI oil tests new lows as traders react to weak economic data and focus on tariff policy outlook.
- Brent oil declined below the $73.00 level.
Natural Gas
Natural gas is moving higher after strong pullback as traders buy the dip.
If natural gas stays above the $4.05 level, it will head towards the nearest resistance at $4.25 – $4.30.
WTI Oil
WTI oil tests new lows as traders worry about Trump’s tariff policy and react to disappointing economic data from the U.S. and Germany.
If WTI oil settles below the $69.00 level, it will move towards the nearest support, which is located in the $67.00 – $67.50 range.
Brent Oil
Brent oil is moving lower amid broad pullback in the oil markets, which is driven by demand fears.
From the technical point of view, Brent oil is moving towards the strong support level at $74.00 – $74.50.
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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