Downtrends in Natural Gas, Oil Markets Amid Geopolitical Tensions
The natural gas market is experiencing a weekly downtrend, with bears maintaining control despite a slight trend line break. According to ArcadiaTrading's analysis, key support levels for Natural Gas (NG) are identified at 2.4 and 2.6.
Meanwhile, the oil market has moved into a neutral trend after breaking a higher low pivot, which is expected to maintain bullish momentum despite geopolitical tensions. A 'shallow pullback' in this context suggests a brief decline followed by a rebound.
The US Dollar (DXY) continues to trade within a long-term megaphone pattern, with 2027 rate cut probabilities being closely monitored. The upcoming FOMC meeting is also expected to have an impact on the dollar's performance.
Gold (GC) has shown signs of a rare weekly downtrend after breaking out of a rising wedge, with levels to watch for a potential long-term top if support at 4131 fails. Silver (SI), however, is showing relative weakness compared to Gold, with a falling wedge pattern and the critical 72.5 level needing to hold to maintain its daily uptrend.