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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Non Farm Payrolls Miss Expectations

From fxempire.com

Natural Gas: {chart} Natural gas rebounds as short sellers rush out of their positions. Several attempts to settle below the $2.00 level yielded no results, and some traders are ready to bet that the market has bottomed out. A move above the 50 MA at $2.20 will push natural gas towards the nearest significant resistance level, which is located in the $2.45 – $2.50 range. WTI Oil: {chart} WTI oil tests new lows as traders react to the weaker-than-expected Non Farm Payrolls report. Traders are worried that a potential slowdown of the U.S. economy would hurt demand for oil. In case WTI oil stays below the $79.00 level, ... (full story)

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  • Category: Technical Analysis