WTI Oil and Natural Gas Forecast: What's Next for Prices?
Market Analysis of WTI Oil and Natural Gas
WTI oil prices have displayed significant fluctuations as geopolitical tensions and inventory levels come into play. After witnessing a decline, we explore the market dynamics shaping these Commodities.
WTI Oil Price Forecast
WTI Crude Oil is trading at $75.51, showing a slight dip of 0.12%. The key 38.2% Fibonacci retracement aligns around $75.22, where the 50-day EMA currently supports prices. A break below this level could usher in further downside, targeting $74.51 and $73.79.
Natural Gas Price Trends
Conversely, Natural Gas is positioned at $2.08, with dynamics indicating potential resistance at $2.15. Movement above $2.10 could stimulate bullish trends, whereas support levels of $1.94 and $1.88 could come into play if prices dip.
Brent Oil Price Outlook
Brent Oil is trading at $79.53, with a recent 23.6% Fibonacci retracement marking pivotal support near $79.14. Monitoring resistance levels is crucial as prices hover near key thresholds.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.