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Natural gas is mostly flat ahead of the weekend. Declining production provides some support to natural gas prices, but weather forecasts remain bearish.
The nearest resistance for natural gas is located in the $3.00 – $3.05 range. A move above $3.05 will provide natural gas with an opportunity to gain strong upside momentum.
WTI oil is losing ground as traders continue to take profits near multi-month highs.
In case WTI oil manages to stay above the $90.00 level, it will get to another test of the nearest resistance at $92.50 – $94.00.
Brent Oil
Brent oil is also losing ground amid a broad pullback in commodity markets.
RSI has moved back into the moderate territory, so Brent oil may gain solid upside momentum in case the right catalysts emerge.
For a look at all of today’s economic events, check out our economic calendar.
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