Natural Gas Holds $2.64 Support; WTI Crude Struggles at $75

WTI and Brent Face Resistance After Breakdown

WTI crude consolidated near $75.46 after breaking below the $77.80-$76.80 support zone, which now acts as resistance. Price sits below both the 50-EMA at $78.09 and the 100-EMA at $80.00, confirming the short-term downtrend. RSI recovered to 43, still indicating seller control. A sustained move above $77.80 would signal a recovery toward $81.25. Failure to reclaim that level could open a path to $74.20 and $72.25, traders said.

Brent crude traded at $79.70, attempting to stabilize after a selloff. Price holds just above a rising trendline at $78.30. It remains below the 50-EMA at $84.08 and the 100-EMA at $84.82. Repeated rejection from $82.20 has shifted momentum to sellers, with $82.20-$83.00 as the first major resistance. RSI near 39 suggests easing momentum. A break below $78.30 could expose $76.00 and $75.10. A move above $82.20 would signal buyer control, traders said.

Investors now turn to the July nonfarm payrolls report. Economists expect 95,000 jobs added, down from 121,000 in June. A softer print would support expectations for less restrictive Federal Reserve policy, with implications for industrial energy demand and the commodity complex.