Natural Gas, WTI Oil, and Brent Oil Forecasts: Understanding Demand Concerns
Natural Gas Price Dynamics
Natural gas continues its attempts to settle above the strong resistance level at $2.25 – $2.30. In case natural gas manages to settle above the $2.30 level, it will move towards the resistance at $2.55 – $2.60.
WTI Oil Outlook
WTI oil tests new lows as traders remain worried about the strength of demand. The potential economic slowdown in the U.S. and China may put significant pressure on oil prices. In case WTI oil settles below the support at $68.00 – $69.00, it will move towards the next support level at $64.00 – $64.50.
Brent Oil Performance
Brent oil is under strong pressure amid demand concerns. RSI remains in the moderate territory despite the significant pullback, which is bearish for Brent oil. From the technical point of view, Brent oil is heading towards the next support level at $69.50 – $70.00.
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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.