Natural Gas

Natural Gas
Natural Gas 190424 Daily Chart

Natural gas is mostly flat as traders are not ready for big moves ahead of the weekend. The market needs additional positive catalysts to gain sustainable upside momentum.

The technical picture remains bearish, although natural gas managed to stay above the support at $1.60 – $1.65.

WTI Oil

WTI Oil
WTI Oil 190424 Daily Chart

WTI oil pulled back from session highs as traders evaluated Israel’s strikes on Iran. According to recent reports, the retaliatory attack was limited, and traders expect that Iran would not strike back.

As a result, WTI oil remains stuck in a wide range between the support at $79.00 – $80.00 and the resistance at $85.50 – $86.50.

Brent Oil

Brent Oil
Brent Oil 190424 Daily Chart

Brent oil has also moved away from session highs when traders realized that Israel avoided escalation.

In case Brent oil settles below the $86.00 level, it will head towards the support at $83.50 – $84.50.

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