Connect with us

Hi, what are you looking for?

Alive Business PlanAlive Business Plan

Economy

Oil falls to $75.00, while natural gas struggles with $2.55

Oil falls to $75.00, while natural gas struggles with $2.55

Yesterday, we saw a drop in the price of oil by almost $5, from $79.56 to the $75.13 level.
The price of natural gas is in the support zone of $2.53-$2.64 for the third day in a row.

Oil chart analysis

Yesterday, we saw a drop in the price of oil by almost $5, from $79.56 to the $75.13 level. An attempt to reach the $80.00 level ended unsuccessfully. During the previous Asian trading session, we saw a recovery to the $76.00 level, but for now, we remain below it and fail to move above and release the bearish pressure. This could lead to a test of yesterday’s support level.

A break below would further increase the pressure on the price of oil and send it to lower levels. Potential lower targets are $74.50 and $74.00 levels. For a bullish option, we need a positive consolidation and a jump to the $76.50 level, where we would test the EMA50 moving average.

A move above would relieve the price of bearish pressure, and we could see a continuation of the oil price recovery. Potential higher targets are $77.00 and $77.50 levels.

Natural gas chart analysis

The price of natural gas is in the support zone of $2.53-$2.64 for the third day in a row. At the end of this week, we remain under pressure, which could lead to a breakout below and the formation of a new low. With that, we could also expect to see a continued pullback to lower levels next week. Potential lower targets are $2.50 and $2.45 levels.

We need a positive consolidation and a move to the $2.65 level for a bullish option. Then, we would have to try to hold there in order to be able to attack the EMA50 moving average and move above it. Potential higher targets are $2.70 and $2.75 levels.

The post Oil falls to $75.00, while natural gas struggles with $2.55 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