[ad_1]
FXEmpire.com –
Key Insights
- Warmer weather forecasts put pressure on natural gas markets.
- WTI oil remains under pressure amid demand worries.
- Brent oil tested new lows but failed to develop additional downside momentum and rebounded towards the $73 level.
Natural Gas
Natural Gas 170323 Daily Chart
Natural gas found itself under pressure due to the recent changes in weather forecasts. The weather is expected to be warmer-than-usual, which is bearish for natural gas prices.
WTI Oil
WTI Oil 170323 Daily Chart
WTI oil remains under pressure amid worries about the potential banking crisis in the EU. The appetite for risk is declining. Traders want to cut their risks ahead of the weekend, which is bearish for oil markets.
Brent Oil
Brent Oil 170323 Daily Chart
Brent oil settled near the $73 level after testing new lows. RSI is in the oversold territory, so the risks of a pullback are increasing. Brent oil will need to climb back above the $76 level to have a chance to gain sustainable upside momentum.
For a look at all of today’s economic events, check out our economic calendar.
This article was originally posted on FX Empire
More From FXEMPIRE:
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
[ad_2]
Image and article originally from www.nasdaq.com. Read the original article here.