🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
28 Jul 2025
🌍 Natural Gas and Oil Forecast: OPEC+ Uncertainty and Export Shifts Stir Market Volatility
🔍 Key Highlights
Venezuelan oil exports may rise by 200,000 barrels/day, potentially easing global supply constraints.
WTI crude remains bearish under key EMAs, with market awaiting breakout direction.
Natural gas holds support above $3.058 but lacks bullish momentum.
🛢️ Market Sentiment Overview
Global energy markets remain volatile amid geopolitical uncertainties and major trade realignments. WTI crude dropped over 1% last Friday, following expectations that Venezuela may boost exports significantly—triggered by potential shifts in U.S. policy toward PDVSA partners.
Earlier disruptions in the Black Sea and Turkey offered brief support, but overall risk appetite has improved. OPEC+ is not expected to implement new measures, keeping oil and gas markets on edge.
🔥 Natural Gas (NG) Outlook
Current Price: $3.095
Key Support Zone: $3.057–$3.191
Resistance Zones:
50 EMA: $3.181
100 EMA: $3.267
Fib Clusters: $3.342 & $3.409
🔽 A break below $3.057 could target $2.973 or even $2.902.
🔼 For buyers to regain momentum, a breakout above $3.275 with volume confirmation is required.
🛢️ WTI Crude Oil (CL) Forecast
Current Price: $65.00
Support Levels: $64.95, $63.98, $63.01
Resistance Zones: $66.56, $67.64
Trendline Watch: Price below 50-EMA ($65.87) and 100-EMA ($66.22)
WTI is moving within a tightening wedge. Unless bulls reclaim $66.56 with strong volume, the bearish trend remains dominant.
🌍 Brent Crude Oil Forecast
Current Price: $68.29
Support: $68.00, $67.68, $66.75
Resistance: $68.94, $69.80
EMA Watch: Still below both 50 ($68.89) and 100 EMA ($68.93)
A close below $68.00 confirms weakness. A bounce from the trendline could retest the $68.94 level.
📈 Final Thoughts from Gold Scalping Signals
This is a critical period for commodity traders. With OPEC+ uncertainty and shifting global exports, volatility is expected to persist in oil and gas markets.
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