Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Economy

Oil falls below $75.00, while Natural Gas slips below $2.75

Oil falls below $75.00, while Natural Gas slips below $2.75

During the Asian fattening session, oil prices continued to retreat, forming a low at $74.64.
The price of natural gas continues to retreat this week.

Oil chart analysis

During the Asian fattening session, oil prices continued to retreat, forming a low at $74.64. We got support in that zone and initiated a bullish consolidation that brought us back above the $75.00 level. We now need to hold above the $75.00 level in order to initiate a bullish consolidation from there and begin a continued recovery. Potential higher targets are $76.00 and $76.50 levels.

Additional resistance for oil price could be found in the EMA50 moving average. We need a negative consolidation and a rejection of the $75.00 level for a bearish option. Next, we need to see a break below the $74.50 level, and in that way we would form a new price low for this week. Potential lower targets are $74.00 and $73.50 levels.

Natural gas chart analysis

The price of natural gas continues to retreat this week. We saw a bearish gap from $2.85 to the $2.80 level at the market’s opening. During the Asian trading session, the price continued to retreat and is now at the $2.75 level. Currently, the price is under a lot of pressure, and a continuation on the bearish side is a realistic option. Potential lower targets are $2.70 and $2.65 levels.

We need a positive consolidation and a return above $2.80 for a bullish option. After that, it is necessary to hold on to that level in order to form a bottom from which to start a new bullish consolidation. Potential higher targets are $2.85, $2.90 and $2.95 levels. We will have additional resistance in the EMA50 moving average in the zone around the $2.95 level.

The post Oil falls below $75.00, while Natural Gas slips below $2.75 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Overview The world of business technology has evolved. Driven by the shift towards distributed work and cloud application delivery, enterprise infrastructure is undergoing a...

    Latest News

    Donald Trump’s defense attorneys Wednesday asked the federal judge handling the government’s classified documents case to allow the former president and his legal team...

    Economy

    Bitcoin Rebounds to $69,000 Quick Look Bitcoin rebounds to $69,000, influenced by optimistic FR statements and anticipation of the halving event. FR officials’ comments...

    Economy

    0xDistro ICO (DISTRO) is Live. What does it offer? In the world of decentralized finance, 0xDistro emerges as a promising project. It presented itself...



    Disclaimer: alivebusinessplan.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 alivebusinessplan.com