From the technical point of view, natural gas is ready to test the nearest support level, which is located in the $2.80 – $2.85 range.
WTI Oil 201123 Daily ChartWTI oil continues to rebound from recent lows as traders bet that OPEC+ will provide additional support to the market. The incident with cargo ship, which was seized in Red Sea by Houthi militants, served as a significant positive catalyst for oil markets.
In case WTI oil settles above the resistance at $76.50 – $77.50, it will head towards the next resistance, which is located in the $82.50 – $83.50 range.
Brent Oil 201123 Daily ChartBrent oil climbed above the $82.00 level as bulls focused on the rising probability of additional production cuts from OPEC+ countries.
In case Brent oil stays above the resistance at $80.50 – $81.75, it will head towards the next resistance at $87.00 – $88.00.