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Natural Gas and Oil Forecast: NG Slips 0.80%; Time for Bullish Bounce? - FX Empire

FX Empire · last updated

Natural Gas and Oil Forecast: NG Slips 0.80%; Time for Bullish Bounce? | FXEmpire

Analysts had anticipated a smaller draw. Meanwhile, the ongoing conflict in the Middle East continues to pose risks, affecting the natural gas and oil market forecasts.

Natural Gas Price Forecast

Brent Oil Price Forecast

UKOIL is trading at $86.61, up 0.12%. The 4-hour chart indicates a clear trend. Key levels to watch include the pivot point at $86.18. Immediate resistance is at $87.40, with further resistance at $87.87 and $88.27. Support levels are $85.69, $85.15, and $84.70.

The 50 EMA is currently at $85.91, while the 200 EMA stands at $84.35, signaling a bullish outlook. UKOIL is bullish above $86.18, but a break below this level could trigger a sharp selling trend.

Arslan, a webinar speaker and derivatives analyst, has an MBA in Finance and MPhil in Behavioral Finance. He guides financial analysis, trading, and cryptocurrency forecasting. Expert in trading psychology and sentiment.

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