• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Oil and natural gas: Oil is once again in a support zone

by July 19, 2024
written by July 19, 2024

Oil and natural gas: Oil is once again in a support zone

Yesterday and today, we again watched the oil price retreat.
On Wednesday evening, the price of natural gas fell to a new July low at the $2.04 level. 

Oil chart analysis

Yesterday and today, we again watched the oil price retreat. During this morning’s Asian session, the price dropped to $80.50. After that, the movement slowed down in the $80.50-$81.00 range. It is possible that we will see a stronger impulse with the beginning of the EU session. If a breakout above oil prices occurs, it could trigger a bullish consolidation. We would get support from the EMA 50 moving average to continue to the bullish side.

Potential higher targets are the $81.50 and $82.00 levels. By rising to $82.00, oil gets new support, this time in the EMA 200 moving average. For a bearish option, we need negative consolidation and momentum below the $80.50 level. After that, we can expect a test of this week’s low at $80.22. If the bearish momentum strengthens, the price will have to look for new support lower. Potential lower targets are the $80.00 and $79.50 levels.

 

Natural gas chart analysis

On Wednesday evening, the price of natural gas fell to a new July low at the $2.04 level. After that, we saw a bullish attempt and recovery to the $2.16 level. The price encounters a new resistance in that zone and retreats to the $2.12 level. During this morning’s Asian trading session, movement took place around that level and the EMA 50 moving average. If we don’t see a boost soon, natural gas prices will be forced to retreat.

Potential lower targets are $2.10 and $2.08 levels. For a bullish option, we need an impulse of up to $2.16, which was the previous high. After that, the price needs to hold there and stabilize above the EMA 50 moving average. Potential higher targets are $2.18 and $2.20 levels. The EMA200 moving average expects us to be around $2.25.

 

The post Oil and natural gas: Oil is once again in a support zone appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
EURUSD and GBPUSD: Pound loses momentum below 1,3000
next post
The dollar index was positive for the second day in a row

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, 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!

Latest News

  • Fat Joe praises Trump healthcare executive order after backing Harris in 2024

    February 26, 2025
  • US bombers strike Yemen weapons facilities controlled by Houthi forces

    October 17, 2024
  • ‘Not committed’: Conservatives warn Mike Johnson still has hill to climb before winning speaker’s gavel

    November 15, 2024
  • 5 reasons why Kamala Harris’ closing argument may give her a win

    October 30, 2024
  • Hezbollah is the ‘X-factor’ in looming Israel, Iran war with ‘nation state capabilities’

    August 10, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,409)
  • Investing (634)
  • Stock (939)

Latest Posts

  • Spirit Airlines, fresh from bankruptcy, is ready to take on the new Southwest, CEO says

    March 13, 2025
  • ApeCoin and Akita Inu: Akita Inu records a new weekly low

    September 26, 2024
  • Qatar agrees to kick Hamas out of Doha after request from Biden administration

    November 9, 2024

Recent Posts

  • Joe Biden poses with Hunter’s Chinese business associates in newly surfaced photos: ‘Incredibly damning’

    December 27, 2024
  • EXCLUSIVE: Elon Musk PAC thanks Trump for ‘saving the American Dream’ in new million-dollar ad

    March 5, 2025
  • US-Ukraine inching toward mineral deal amid last-minute roadblocks

    April 30, 2025

Editor’s Pick

  • Amazon to invest another $4 billion in Anthropic, OpenAI’s biggest rival

    November 23, 2024
  • Inflation picks up again in June as tariffs slowly work their way through U.S. economy

    July 16, 2025
  • Solana and Cardano: Cardano price continues to retreat

    September 4, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock