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

Oil and natural gas: oil makes an impulse to a new low

by September 2, 2024
written by September 2, 2024

Oil and natural gas: oil makes an impulse to a new low

The oil price fell to a ten-day low in the morning at $72.89
At the start of this morning’s Asian session, the price of natural gas made a bullish gap from $2.20 to $2.23

Oil chart analysis

The oil price fell to a ten-day low in the morning at $72.89. After that, during this morning’s Asian session, the price stabilized there and returned above the $73.00 level. At the beginning of the EU session, we saw a bullish impulse up to the $73.50 level. Here, we are trying to move above the daily open price to continue on the bullish side. If oil succeeds in this, it will have the opportunity to start a bullish consolidation above the $74.00 level.

Potential higher targets are $74.50 and $75.00 levels. The EMA 50 moving average is in the zone of $74.50, while the EMA 200 is in the zone of $75.00. For a bearish option, we need a negative consolidation and a new pullback below $73.00. We are, therefore, moving to a new daily low and will probably see the formation of a new low. Oil will thereby confirm that it is under pressure and could continue to seek new lower support. Potential lower targets are $72.50 and $72.00 levels.

 

Natural gas chart analysis

At the start of this morning’s Asian session, the price of natural gas made a bullish gap from $2.20 to $2.23. After that, the bullish consolidation continued until $2.27, where we formed a daily high. We stopped there, and the price retreated to the $2.24 level. We are now trying to get new support here and attack this morning’s high again. Potential higher targets are $2.28 and $2.30 levels.

For a bearish option, we need a pullback in the price of natural gas below $2.23 and close the gap from the market opening to $2.20. Going down to that zone, we will try to maintain above EMA 200 to get its support. If we do not succeed in this, we expect a drop below and the formation of a new daily low. Potential lower targets are the $2.16 and $2.14 levels. Friday’s low price of natural gas was at the $2.16 level.

 

The post Oil and natural gas: oil makes an impulse to a new low appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Bitcoin price continues to pull back on Monday
next post
Fisker (FSR) Stock: Struggles, Surprises, and the Road Ahead

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

Kraken Rolls Out Commission-Free Stock Trading

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

  • Dick’s Sporting Goods stands by full-year guidance — even with tariffs looming

    May 28, 2025
  • Darktrace Share Price: Company’s Price Forecast

    August 2, 2024
  • Trump picks Karoline Leavitt to serve as White House press secretary

    November 16, 2024
  • Trump’s approach to Africa lauded by top Republican as recent airstrikes show ‘outside the box’ thinking

    June 18, 2025
  • Senate Republicans plan hearing on Biden’s alleged cognitive decline cover-up

    May 29, 2025

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 (5,603)
  • Investing (634)
  • Stock (867)

Latest Posts

  • Rep. Marjorie Taylor Greene to vote for Johnson after seeking to oust him from speakership last year

    January 3, 2025
  • Trump admin fires Navy admiral at NATO targeted by conservative group

    April 8, 2025
  • Turkish tourists flock to Greece amid skyrocketing inflation at home

    July 22, 2024

Recent Posts

  • Trump says Iran would ‘like to talk’ about dialing down Israel-Iran conflict

    June 16, 2025
  • Experts sound the alarm over ‘shocking’ study showing significant risks to women who take abortion pills

    May 6, 2025
  • With Trump’s backing Israel pushes deeper into Gaza as pressure builds for hostage deal

    April 12, 2025

Editor’s Pick

  • In warning to Turkey, Israel hits strategic targets in Syria amid rising tensions

    April 4, 2025
  • KLIP Stock Spotlight: KraneShares’ China Internet ETF

    August 26, 2024
  • Pentagon fails 7th audit in a row, unable to fully account for $824B budget

    November 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