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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs As U.S. – China Trade Talks Start In London
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Key Points:
- Natural gas is under strong pressure at the start of the week.
- WTI oil gains ground as traders focus on U.S. - China trade talks.
- Brent oil attempts to settle above the $67.00 level.
Natural Gas
Natural gas is trying to settle below the nearest support level, which is located in the $3.60 – $3.65 range.
If natural gas settles below the $3.60 level, it will head towards the next support at $3.35 – $3.40.
WTI Oil
WTI oil gains ground as traders wait for the results of U.S. – China trade talks in London.
If WTI oil manages to settle above the resistance at $66.00 – $66.50, it will head towards the next resistance level at $71.50 – $72.00.
Brent Oil
Brent oil tests resistance at $67.00 – $67.50 as traders stay bullish at the start of the week.
A successful test of this level will open the way to the test of the next resistance at $71.00 – $71.50.
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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