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

Oil and Natural Gas: New Targets and Prices for this Week

by October 14, 2024
written by October 14, 2024

Oil and Natural Gas: New Targets and Prices for this Week

At the opening of this week’s session, the oil price was under pressure, and we saw a bearish gap between $75.56 and $75.00
On Friday, the price of natural gas was under a lot of pressure in the $2.94 zone

Oil chart analysis

At the opening of this week’s session, the oil price was under pressure, and we saw a bearish gap between $75.56 and $75.00. We did not stop there but continued to pull down to the $74.10 level. After that, we managed to initiate a recovery that did not last long, and we find resistance at the $74.85 level. An additional break in the EMA 50 moving average in that zone had the effect of oil starting a retreat back to the $74.10 level.

Currently, the price is under pressure in the EU session, and we expect to see a further retreat and fall to a new daily low. We hope for support in the EMA 200 moving average in the zone of $73.50 levels. Potential lower targets are $73.00 and $72.50 levels. For a bullish option, we need a positive consolidation of the oil price above the $75.00 level. There, we expect to find support in the EMA 50 moving average. After that, the price has a chance to close this morning’s gap.

 

Natural gas chart analysis

On Friday, the price of natural gas was under a lot of pressure in the $2.94 zone. After losing the previous momentum, we saw the initiation of a bearish consolidation below the EMA 200 moving average. That strengthened the bearish momentum, and by the end of the market closing, the price dropped to the $2.84 level. During this morning’s Asian trading session, natural gas remained in the support zone without the strength to move above the $2.85 level.

The current picture is unfavorable for the price, and we can expect to start a new pullback to a new low. Potential lower targets are $2.82 and $2.80 levels. For a bullish option, we need a positive consolidation above the daily open level of $2.85. After stabilizing there, we can hope for a new positive consolidation and further recovery. Potential higher targets are $2.86 and $2.88 levels.

 

The post Oil and Natural Gas: New Targets and Prices for this Week appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Hezbollah drone attack in Israel kills multiple IDF soldiers, wounds dozens of people: reports
next post
The dollar index is in a good position to remain bullish

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

  • Top Democrat on House Intel Committee calls on Biden to suspend campaign after NATO press conference

    July 12, 2024
  • From cease-fire push to boots on the ground in Israel: US seemingly accepts involvement in escalating war

    October 15, 2024
  • ‘Enough is enough’: New report warns top US companies at risk of hefty fines from possible China sanctions

    January 14, 2025
  • Bain Capital to acquire Envestnet in $4.5 billion deal backed by BlackRock and Fidelity

    July 11, 2024
  • Judge tells government watchdogs fired by Trump there’s not much she can do for them

    March 27, 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

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

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

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

    July 19, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,735)
  • Investing (624)
  • Stock (775)

Latest Posts

  • The price of Bitcoin is climbing above $66000 this week

    July 17, 2024
  • Amazon to invest another $4 billion in Anthropic, OpenAI’s biggest rival

    November 23, 2024
  • Trump to be inaugurated inside: Last ceremony held indoors was Reagan’s in 1985

    January 17, 2025

Recent Posts

  • Gold and Silver: New Weekly Lows and Potential Targets

    October 9, 2024
  • Turkey’s markets plunge on the arrest of Erdogan’s rival Ekrem Imamoglu, Lira hits record low

    March 19, 2025
  • Judge temporarily blocks sports streaming service owned by Disney, Fox, Warner Bros.

    August 18, 2024

Editor’s Pick

  • Dozens of female Trump staffers, surrogates blast Mark Cuban as ‘misogynistic’ in new campaign ad

    November 1, 2024
  • New ‘insulting’ Harris ad targets Black men’s love lives

    October 20, 2024
  • Graham grills FBI nominee Patel over ‘disgusting’ and ‘corrupt’ Crossfire Hurricane probe

    January 30, 2025
  • 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