Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Rebounds From Session Lows

Natural gas is attempting to consolidate above the $3.00-$3.05 resistance level, fueled by increased long positions, with a potential target of $3.25-$3.30. WTI crude oil rebounded from session lows after President Trump indicated a possible extension of China tariff deadlines for negotiations, though its technical outlook remains bearish. Brent crude also gained ground, driven by U.S.-China trade war sentiment, but a close below the $60.50-$61.00 support could lead to further declines towards $57.00-$57.50.

Analysis

Natural gas (UNG) is demonstrating upward pressure, attempting to consolidate above the $3.00-$3.05 resistance level, driven by an increase in long positions following a multi-day pullback. A sustained breach above $3.05 would technically open the path towards the next resistance target of $3.25-$3.30, indicating a short-term bullish bias supported by a positive per-ticker sentiment of 0.4.

WTI crude oil (USO) experienced a rebound from session lows, primarily attributed to President Trump's statement regarding a potential extension of the tariff deadline for U.S.-China trade negotiations. Despite this intraday recovery, the technical outlook for WTI remains bearish, suggesting that additional positive catalysts are required to reverse the current trend, reinforced by a negative per-ticker sentiment of -0.2.

Brent crude (BNO) also registered gains, with market focus remaining on the evolving U.S.-China trade war dynamics. However, its technical position is precarious; a settlement below the critical support range of $60.50-$61.00 could trigger a further decline towards the $57.00-$57.50 level. The overall market sentiment is mixed and speculative, with trade policy and tariffs being a significant theme influencing oil prices.

Key Decisions for Investors

• Monitor natural gas (UNG) for a decisive break above $3.05, as this could signal further upside towards $3.25-$3.30, aligning with increased long positioning.
• Maintain caution on WTI crude oil (USO) given its persistent bearish technical picture, despite short-term trade-related rebounds, and await stronger fundamental catalysts for a trend reversal.
• Closely watch Brent crude (BNO) for a potential breach of the $60.50-$61.00 support level, which would indicate significant downside risk towards $57.00-$57.50, heavily influenced by U.S.-China trade developments.