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

Oil and natural gas: oil price in retreat since Tuesday

by August 14, 2024
written by August 14, 2024

Oil and natural gas: oil price in retreat since Tuesday

The oil price rose to the $80.16 level yesterday, forming a new weekly high
During this morning’s Asian trading session, the price of natural gas hovered at the $2.22 level

Oil chart analysis

The oil price rose to the $80.16 level yesterday, forming a new weekly high. We didn’t have the strength to go further above, and a pullback to the $78.00 level followed. During this morning’s Asian session, the price tried to return to the bullish side. The success was partial, up to $79.00. We then paused there and initiated a pullback to the $78.00 level. The price of oil is trying to find new support here and stop further retreat.

Potential lower targets are $77.50 and $77.00 levels. The EMA 200 moving average could stop the decline at the $77.00 level. For a bullish option, we need a positive consolidation and a jump up to $79.00 again. Then, we need to hold ourselves there before we start the recovery. Potential higher targets are $79.50 and $80.00 levels.

 

Natural gas chart analysis

During this morning’s Asian trading session, the price of natural gas hovered at the $2.22 level. Now, in the EU session, nothing has changed on the chart, and we expect higher volatility in the US session during the news. A push to $2.28 could trigger a bullish consolidation and further recovery in gas prices. Potential higher targets are $2.30 and $2.32 levels.

For a bearish option, we need a pullback in the price of natural gas below the $2.22 level. With that step, we fall below the weekly open price to the negative side. This will strengthen the bearish momentum to continue the retreat to lower levels. Potential lower targets are $2.20 and $2.18 levels. The EMA 200 moving average in the $2.18 zone is additional support for natural gas prices.

 

The post Oil and natural gas: oil price in retreat since Tuesday appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Ukrainian Offensive Forces Control 1,000 sq km in Kursk
next post
Biden-Harris administration using taxpayer money to mask Medicare premium hikes before election: critics

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

  • McDonald’s Snack Wrap is officially making a permanent return

    June 4, 2025
  • UK lawmakers vote in favor of bill legalizing assisted dying

    November 29, 2024
  • GOP senator demands FBI reveal if surveillance went beyond Jack Smith’s phone tracking

    October 9, 2025
  • Biden admin held private talks with Beijing on Chinese spy balloon ahead of notifying public, officials say

    April 9, 2025
  • JPMorgan creates new role overseeing junior bankers as Wall Street wrestles with workload concerns

    September 19, 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 (6,506)
  • Investing (634)
  • Stock (941)

Latest Posts

  • Trump announces Israel agrees to Gaza ‘initial withdrawal line’ as ‘3,000 year catastrophe’ nears end

    October 4, 2025
  • A look back at Biden’s Remarkable 50-year career in politics

    March 20, 2025
  • Biden announcement makes him first US president to not seek re-election since 1968

    July 21, 2024

Recent Posts

  • Michelle Obama to skip Trump inauguration, 11 days after missing Carter funeral

    January 14, 2025
  • Russian drone strikes kill 7 in Kharkiv during Zelenskyy’s White House meeting with Trump

    August 18, 2025
  • DAVID MARCUS: China already played us with TikTok. Let’s not make it worse

    January 19, 2025

Editor’s Pick

  • CFPB alleges Berkshire Hathaway unit ignored red flags in manufactured home loans

    January 6, 2025
  • Why Amazon sellers and retailers are flocking to TikTok Shop despite looming U.S. ban

    December 3, 2024
  • Fox News Poll: Obama, RFK Jr., and Taylor Swift more popular than Harris, Trump

    October 17, 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