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

Oil and natural gas: Oil price fell to a new annual low

by September 4, 2024
written by September 4, 2024

Oil and natural gas: Oil price fell to a new annual low

During this morning’s Asian session, oil prices continued yesterday’s bearish trend to a new low of $69.19
On Tuesday, the price of natural gas dropped to the $2.18 support level.

Oil chart analysis

During this morning’s Asian session, oil prices continued yesterday’s bearish trend to a new low of $69.19. After its formation, the price started a recovery, breaking through the daily open price. A new daily high was formed at the $71.45 level. We are currently looking at a pullback to the $71.00 level, and the price is looking for new support. Staying above the daily open price on the positive side should be considered a positive move.

Based on this, we expect new bullish oil price consolidation moves and growth to a new daily high. Potential higher targets are $72.00 and $73.00 levels. Moving above $72.00, we get support from the EMA 50 moving average. For a bearish option, we need a drop in oil price below the daily open price and the $70.00 level. That step reinforces the bearish momentum, and it is possible that we will see a test of this morning’s low. Potential lower targets are the $69.00 and $68.00 levels.

 

Natural gas chart analysis

On Tuesday, the price of natural gas dropped to the $2.18 support level. This was followed by a bullish consolidation and a return above the $2.30 level. During this morning’s Asian trading session, the price managed to hold above $2.30 and climb to a new weekly high at the $2.33 level. We have good bullish momentum and expect to continue conquering higher levels.

Potential higher targets are the $2.36 and $2.38 levels. For a bearish option, we need a negative consolidation and a drop below the $2.30 level. With that, we move below the daily open price and will have to test the EMA 50 at the $2.28 level. The impossibility of the natural gas price being maintained there will influence us to see an impulse below and the formation of a new daily low. Potential lower targets are the $2.26 and $2.24 levels.

 

The post Oil and natural gas: Oil price fell to a new annual low appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
The dollar index has been moving steadily this week
next post
Solana and Cardano: Cardano price continues to retreat

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

  • FLASHBACK: Top Harris campaign aide was key voice in WH push to remove COVID info from tech platforms

    August 27, 2024
  • ‘Sanctuary state’: Walz signed law making Minnesota destination for transgender therapies for kids

    August 7, 2024
  • Long AME: bullish uptrend channel and strong support levels indicate promising near-term upside potential

    July 23, 2024
  • Senate Dems rail against ‘shadow speaker’ billionaire Elon Musk: ‘Not elected to anything’

    December 21, 2024
  • State Department unveils patriotic ‘America First’ rebrand as part of sweeping makeover

    July 2, 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 (6,007)
  • Investing (634)
  • Stock (924)

Latest Posts

  • Airbus stock price analysis: big beneficiary of Trump’s trade war

    April 15, 2025
  • Two men convicted in Pennsylvania mayoral race election fraud case hit with harsher sentences than expected

    June 19, 2025
  • Revenge porn bill backed by Melania Trump heads to president’s desk after overwhelming House vote

    April 29, 2025

Recent Posts

  • Lila Rose: Kamala Harris, Democrats’ abortion extremism would be a human rights disaster

    August 24, 2024
  • I made memes for the White House. Here’s what I learned

    August 20, 2025
  • American citizen killed in Russian attack on Kyiv, State Department confirms

    June 17, 2025

Editor’s Pick

  • VP Harris faces backlash in crucial swing state after her ‘disastrous’ anti-fracking position resurfaces

    July 23, 2024
  • Camp David: Jimmy Carter’s finest moment

    December 30, 2024
  • DWAC Stock Seems at a Standstill. What Is the Forecast? 

    August 2, 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