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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Loses Gains As Israel’s Retaliatory Attack Looks Limited

FXEmpire.com -

Natural Gas

Natural Gas 190424 Daily Chart

Natural gas is mostly flat as traders are not ready for big moves ahead of the weekend. The market needs additional positive catalysts to gain sustainable upside momentum.

The technical picture remains bearish, although natural gas managed to stay above the support at $1.60 – $1.65.

WTI Oil

WTI Oil 190424 Daily Chart

WTI oil pulled back from session highs as traders evaluated Israel’s strikes on Iran. According to recent reports, the retaliatory attack was limited, and traders expect that Iran would not strike back.

As a result, WTI oil remains stuck in a wide range between the support at $79.00 – $80.00 and the resistance at $85.50 – $86.50.

Brent Oil

Brent Oil 190424 Daily Chart

Brent oil has also moved away from session highs when traders realized that Israel avoided escalation.

In case Brent oil settles below the $86.00 level, it will head towards the support at $83.50 – $84.50.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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