Natural Gas and Oil Forecast: Market Analysis

Published: April 10, 2026

Author: Arslan Ali

Key Points

• WTI Support Zone: WTI crude oil has rebounded from $91.00, where it found support from the 200-SMA and a major ascending trendline.
• Brent Resistance: Brent crude oil is facing resistance at $99.30, a level that has transitioned from support to a bearish hurdle.
• Natural Gas Breakdown: Natural gas prices have fallen below the $2.77 support level, indicating bearish momentum.

Market Overview

The oil and natural gas markets are experiencing significant volatility as traders assess the stability of a fragile truce affecting supply chains. The prices of WTI and Brent oil have fluctuated dramatically, with changes of 10-15% in recent days, primarily due to concerns over oil flow through the Strait of Hormuz, a critical passage for global oil transit.

Despite a temporary calm, uncertainty regarding the duration of supply disruptions continues to keep oil prices elevated, acting as an insurance premium against potential risks.

Natural Gas Analysis

Natural gas is currently trading at $2.67, having breached the $2.77 support zone. The market is showing bearish signs, with the 50-SMA crossing below the 200-SMA, indicating a bear market. The Relative Strength Index (RSI) is at 35, suggesting weak momentum. Immediate support levels are at $2.63 and $2.56, while resistance is seen at $2.77 and $2.87.

Trade Idea: Sell below $2.65, targeting $2.56, with a stop loss above $2.77.

WTI Crude Oil Analysis

WTI crude oil has rebounded to $99.60 after a sharp decline from the $111-$117 supply zone. The price found support at $91, which aligns with the ascending trendline and the 200-SMA. Resistance levels are identified at $105.10 and $111.80, with support at $96.00 and $91.00. A higher low formation could indicate a continuation of the bullish trend.

Trade Idea: Buy at $100, targeting $105, with a stop loss below $96.

Brent Crude Oil Analysis

Brent crude oil is currently around $97.60, just below the significant resistance level of $99.30, which has flipped from support to resistance. The price remains under a descending trendline, indicating bearish control. The 50-SMA is acting as dynamic resistance, while the 200-SMA provides support near $92. The RSI is at 40, indicating weak momentum.

If Brent breaks through $99.30, it could rise towards $104.60; however, failure to do so may lead to a decline towards $92.00.

Trade Idea: Sell below $96, targeting $92, with a stop loss above $100.

Conclusion

The oil and natural gas markets are navigating through a complex landscape of geopolitical risks and supply uncertainties. Traders are advised to remain vigilant and consider the outlined trade ideas based on current market conditions.