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Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Tests New Highs
Natural Gas: chart Natural gas pulls back as traders react to the EIA report, which indicated that working gas in storage declined by 326 Bcf from the previous week, compared to analyst consensus of -322 Bcf. From the technical point of view, natural gas did not manage to settle above the resistance at $2.70 – $2.75. WTI Oil: chart WTI oil tests new highs as traders react to the better-than-expected U.S. GDP Growth Rate report. The American economy stays strong, which is bullish for oil markets. RSI remains in the moderate territory, so there is plenty of room to gain additional momentum in case the right ... (full story)