Brent Reaches $70/b, Gas also Touches $4.34/MMBtu

Yesterday #XBRUSD reached our final target of $70/b, even going lower briefly. We warned you of this trading opportunity as far as February 04.

XBRUSD, 1D, March 05 08:20 MT Time

Now we can close our short idea, but downside pressure still persists in crude oil. OPEC countries plan to unwind production cuts and Trump’s aim to lower crude prices as much as possible makes longs a very risky endeavour. Shorts also should wait, as $70/b has acted as strong support since September 2024.

Also, the same day we told you about future Natural gas dynamics, #XNGUSD reached our marked target. Bullish momentum is gaining pace, as both fundamentals and technicals align for a breakout.

XNGUSD, 4H, March 05 08:20 MT Time