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Natural gas tested new lows as traders focused on bearish weather forecasts.
In case natural gas stays below the $2.60 level, it will head towards the next support, which is located in the $2.35 – $2.40 range.
WTI oil gains ground as traders hope that China’s stimulus measures would provide sufficient support to the economy and boost demand for oil.
In case WTI oil settles above the $81.75 level, it will head towards the next resistance, which is located in the $86.00 – $87.30 range.
Brent Oil
Brent oil is also moving higher, supported by the recent news from China and weaker dollar.
A move above the 86.00 level will open the way to the test of the resistance at $88.80 – $90.00.
For a look at all of today’s economic events, check out our economic calendar.
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