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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Traders Stay Bullish

FXEmpire.com -

Natural Gas

Natural Gas 140624 Daily Chart

Natural gas continues to move lower as traders focus on rising production levels.

A move below the support at $2.80 – $2.85 will push natural gas towards the 50 MA at $2.57.

WTI Oil

WTI Oil 140624 Daily Chart

WTI oil gains some ground ahead of the weekend. Traders bet that oil demand in the second half of the year could be stronger than previously expected.

From the technical point of view, WTI oil consolidates below the key resistance at $79.00 – $80.00.

Brent Oil

Brent Oil 140624 Daily Chart

Brent oil is also moving higher as traders bet on the continuation of the rebound from June lows.

In case Brent oil manages to settle above the $83.00 level, it will head towards the resistance at $84.50 – $85.00.

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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