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Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Pulled Back From Session Highs
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Key Points:
- Natural gas tested new lows as weather forecasts remained bearish.
- WTI oil pulled back towards the $73.00 level.
- Brent oil continued its attempts to settle below the support at $77.00 - $77.50.
Natural Gas
Natural gas remains under pressure as traders focus on mild weather forecasts.
A successful test of the support at $3.55 – $3.60 will push natural gas towards the next support level at $3.20 – $3.25.
WTI Oil
WTI oil pulled back from session highs as supply disruption in Libya did not provide sufficient support to prices.
If WTI oil settles below the $73.00 level, it will move towards the 50 MA at $71.83.
Brent Oil
Brent oil has also lost momentum and pulled back towards the support at $77.00 – $77.50.
RSI remains in the moderate territory, and there is plenty of room to gain momentum in case the right catalysts emerge.
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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