Category: Forex News

Natural Gas and Oil Forecast: Ceasefire Talks & Strong Dollar; More Selling?

Brent Oil (UKOIL) registers a decline of 0.43%, positioning the price at $85.17. This movement situates UKOIL below its pivot point of $85.59, indicating potential downward momentum. Resistance levels are observed at $86.50, $87.23, and $87.94, suggesting areas of future contention for price advances.

Support levels are marked at $84.57, $83.89, and $83.20, offering possible stabilization points for price retractions.

The 50-Day Exponential Moving Average (EMA) at $85.24 and the 200-Day EMA at $83.09 provide critical insights into the market’s direction, hinting at a bearish sentiment below the pivot point of $85.59. However, surpassing this threshold could imply a shift to a more bullish outlook.

For a look at all of today’s economic events, check out our economic calendar.


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