Category: Forex News, News

Natural Gas and Oil Forecast: Oil Rallies on US Stockpiles Drop, Brent at $85

Natural Gas (NG) futures are trading lower at $2.30, down 0.82% for the day. The 4-hour chart reveals a bearish bias, with prices trading below both the 50-day and 200-day exponential moving averages (EMAs) of $2.18 and $2.38, respectively.

The pivot point at $2.06 is a critical level to watch. A break below this could accelerate the downtrend towards the support levels of $1.98, $1.92, and $1.85. Conversely, a move above $2.06 could signal a potential reversal, with the next resistance levels at $2.13, $2.21, and $2.28.


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