Natural Gas

Natural Gas
Natural Gas 150824 Daily Chart

Natural gas pulls back despite the bullish EIA report, which indicated that working gas in storage declined by 6 Bcf from the previous week.

In case natural gas pulls back below the $2.15 level, it will head towards the nearest support at $2.00 – $2.05.

WTI Oil

WTI Oil
WTI Oil 150824 Daily Chart

WTI oil rebounds after the recent sell-off. Traders react to the strong U.S. Retail Sales report, which showed that U.S. economy remained in a decent shape.

A move above the $78.00 level will push WTI oil towards the resistance at $79.00 – $80.00.

Brent Oil

Brent Oil
Brent Oil 150824 Daily Chart

Brent oil gained ground as traders used the recent pullback as an opportunity to increase their long positions. Meanwhile, tensions in the Middle East continue to provide some support to oil markets.

From the technical point of view, Brent oil is moving towards the nearest resistance level at $81.50 – $82.00.

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