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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs After Strong Jobs Report
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Key Points:
- Natural gas is heading towards the resistance at $3.85 - $3.90.
- WTI oil climbed above the $64.00 level as traders reacted to Non Farm Payrolls data.
- Brent oil rallied above the $64.00 level.
Natural Gas
Natural gas gains ground as traders ignore yesterday’s EIA report and bet on rising demand.
If natural gas settles above the resistance at $3.85 – $3.90, it will head towards the next resistance level at $4.15 – $4.20.
WTI Oil
WTI oil tests new highs as traders react to the better-than-expected Non Farm Payrolls report.
If WTI oil moves above the $65.00 level, it will head towards the next resistance at $66.00 – $67.50.
Brent Oil
Brent oil is moving higher as traders remain focused on U.S. – China trade talks.
A successful test of the resistance level at $67.00 – $67.50 will open the way to the test of the next resistance level 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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