Natural Gas

Natural Gas
Natural Gas 010424 Daily Chart

Natural gas is moving higher as traders bet that it would not be able to settle below the key support at $1.60 – $1.65.

If natural gas stays above the $1.80 level, it will head towards the resistance at $1.95 – $2.00.

WTI Oil

WTI Oil
WTI Oil 010424 Daily Chart

WTI oil  gains ground amid rising tensions in the Middle East. Iran’s consulate in Syria was destroyed by an air strike, raising worries about an escalation of tensions between Iran and Israel.

A move above the $84.50 level will push WTI oil towards the next resistance level, which is located in the $85.50 – $86.50 range.

Brent Oil

Brent Oil
Brent Oil 010424 Daily Chart

Brent oil tested new highs as traders focused on tight supply, healthy demand, and geopolitical risks.

The technical picture is bullish as Brent oil managed to test new highs after a period of consolidation.

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