Natural Gas, WTI Oil, and Brent Oil Forecasts: Analyzing Recent Market Movements
Natural Gas Progressions
Natural gas gains ground as the recovery continues. Technically, it is moving towards resistance at $2.25 – $2.30. If it climbs above $2.30, the next resistance level is set at $2.55 – $2.60.
WTI Oil Decline
WTI oil tests new lows, with traders concerned about the potential return of Libyan oil exports and waning demand from China. A move below $70.00 will pave the way for testing support at $68.00 – $68.50.
Brent Oil Concerns
Brent oil settles below $75.00, with traders anxious about OPEC+ potentially increasing production despite weak demand. The RSI remains moderate, indicating room for additional downside momentum.
Key Economic Events
For comprehensive updates on economic events, refer to our economic calendar.
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.