-
Natural Gas, WTI Oil, Brent Oil – Oil Is Under Pressure As China Data Disappoints
chart Natural gas remains under pressure as current demand is low and the weather forecasts are uninspiring. From the technical point of view, natural gas is trying to settle in the $2.20 – $2.35 range. A move below the $2.20 level will push natural gas towards the support at $2.00. R1:$2.35 – R2:$2.60 – R3:$2.85 S1:$2.20 – S2:$2.00 – S1:$1.80 chart WTI oil rebounded from session lows but remained under pressure as China’s Manufacturing PMI declined from 49.2 in April to 48.8 in May. Analysts expected that it would grow to 49.4. In case WTI oil settles above the $69.20 level, it will move towards the ... (full story)