Advertisement
Advertisement
Natural Gas, WTI Oil, Brent Oil Forecasts – WTI Oil Rebounds From Session Lows
By:
Key Points:
- Natural gas moved away from session highs on profit-taking.
- WTI oil climbed above the $71.00 level as traders bought the dip.
- Brent oil attempts to settle back above the $75.00 level.
Natural Gas
Natural gas pulled back from session highs as traders took some profits off the table after the strong rally.
If natural gas declines below the $3.55 level, it will head towards the support at $3.20 – $3.25.
WTI Oil
WTI oil rebounded from session lows as Trump’s reciprocal tariffs will not take effect immediately. Traders bet that tariff threat will lead to successful negotiations.
In case WTI oil stays above the $71.00 level, it will head towards the resistance level, which is located in the $73.00 – $73.50 range.
Brent Oil
Brent oil has also managed to rebound from session lows. From a big picture point of view, traders will stay focused on potential U.S. – Russia negotiations, which may have a material impact on the oil market.
A move above the $75.00 level opens the way to the test of the 50 MA at $75.81.
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.
Latest news and analysis
Advertisement