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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Amid Signs Of Progress In U.S. – Iran Talks
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Key Points:
- Natural gas tests resistance at $3.35 - $3.40.
- WTI oil pulled back towards the $61.00 level.
- Brent oil declined towards $64.00.
Natural Gas
Natural gas rebounded from session lows and tested the nearest resistance level at $3.35 – $3.40.
If natural gas climbs above the $3.40 level, it will head towards the next resistance, which is located in the $3.60 – $3.65 range.
WTI Oil
WTI oil pulled back amid reports indicating that the U.S. and Iran reached progress in nuclear deal talks.
If WTI oil settles below the $60.00 level, it will move towards the support at $57.50 – $58.00.
Brent Oil
Brent oil is moving lower as traders worry that OPEC+ will continue to increase supply in the upcoming months.
If Brent oil declines below the $64.00 level, it will move towards the support at $62.00 – $62.50.
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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