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Forecasts for Natural Gas, WTI Oil, Brent Oil – Oil rises as traders bet on strong summer demand

FXEmpire.com –

Natural gas

Natural gas 100624 Daily chart

Natural gas retreats as traders take some profits off the table near multi-month highs.

The technical picture remains bullish, but natural gas needs to settle above the $3.09 level to continue the move.

WTI oil

WTI Oil Daily Chart 100624

WTI crude rises as traders react to a Goldman Sachs report that predicted strong summer demand.

A move above the $78.00 level will push WTI oil towards the nearest resistance, which is in the $79.00 – $80.00 range.

Brent oil

Brent Oil Daily Chart 100624

Brent crude also managed to gain strong upward momentum. Goldman Sachs analysts expect Brent oil to head towards the $86 level in the third quarter.

If Brent remains above the $81.00 level, it will head towards the $84.50 – $85.50 resistance.

To see all of today’s economic events, see our economic calendar.

This article was originally posted on FX Empire

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