NEW YORK ( TheStreet) -- Crude oil and natural gas will likely trade higher this week on China's decision to end the Yuan's two-year peg against the dollar, boosting investor confidence in the global economic recovery and demand growth for crude oil and natural gas.The Department of Energy report last week was negative for crude oil prices; however, prices registered a weekly gain on economic recovery. Early this week, crude oil is set to rally on the China story. In addition, the eurozone crisis may have abated for now, in the absence of announcements of fragile economic conditions in other countries, apart from Greece. The forecast of continuing hot weather should firm natural gas prices during the week. The rise in personal consumption and spending data in the U.S. is a positive signal for natural gas prices. In addition, the current year is expected to be one of the most active hurricane seasons this decade, which could support higher natural gas prices. However, natural gas inventories at 14% above the five-year average should keep the price spikes to a minimum. Technical analysis implies crude oil and natural gas to trade sideways to higher this week. This past week, crude gained 3.87%, reaching a high of $79.17 per barrel to close at $78.26 per barrel. As per Fibonacci principles, crude oil is witnessing resistance at the $79.93 level. The leading indicator, stochastic (5, 3) is close to the overbought level, indicating that the past week's bullish momentum may halt, at least in the interim, which may not be the case following China's unshackle of the Yuan peg. Overall, crude oil prices are anticipated to move higher. Natural gas prices traded sideways to higher the past week, gaining as much as 4.5%. Current prices are above 13, 22 and 45 EMA, signaling a rebound. As per Fibonacci principles, natural gas is witnessing range-bound movement between 50% retracement at $5.011 per MMBtu and 61.8% retracement at $5.262 levels per MMBtu, suggesting that a break on either side may start a fresh momentum. A leading indicator, stochastic (5, 3), is treading the overbought zone. The RSI (14) daily has ascended from 0.42 to 0.60, pointing toward a northward momentum. Overall, the indicators are mixed and natural gas may move higher this week.