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

Oil and Natural Gas Analysis: Price Decline Continues

by November 15, 2024
written by November 15, 2024

Overall Analysis

Oil tanked more then -1.98% on Friday’s trading session, broke major supporting trendline and sustained below it. 
Natural Gas down by almost -1%, breaking the supporting trendline, currently at major level. Breakdowns may trigger massive selling. 

Oil Chart Analysis 

Oil/USD- 15 min time frame 

On the 8th November 2024 trading session, oil tanked more than -2%, breaking all the major supporting trending and closing below it. Price currently settled below the previous swing breaking the uptrend price action. 

Looking at the price on hourly time frame, it might create a double top pattern and close below the neckline, triggering selling on hourly time frame too. The price was moving in an uptrend with higher high and higher low swing creation, finally breaking it on 8th November 2024. 

Currently, in the 15 min time frame, the price is taking a halt after a major fall, creating an ascending triangle like structure. The price might go up to retest 0.5 feb retracement level of the fall or it can retest the supporting trendline. Thus far, it remains properly in the selling trend, indicating a few entry triggers mentioned below. 

If the price goes and retests previous supporting trendline and fails to close above it then sellers can consider entering the trade with a stop loss above previous swing high and target till 70 level. 
If the prices continue in the selling trend and continue below 69.86 level, then sellers may enter the trade with a stop loss above the previous swing high and target till 69.23 level. 

Natural Gas Chart Analysis 

Natural Gas/USD 15 min time frame 

On the 7th November 2024 trading session, Natural Gas initially moved in the zone and faced support and resistance from the trendlines. The price fell sharply in the second half after rejecting from the resistance trendline, breaking the supports and settling below them. 

On a daily time frame price can be seen shrinking. If it closes above 2.8695 level, it will trigger favorable conditions for the trending market. In the hourly time frame, the price was creating a peanut pattern, finally breaking it on 8th November 2024. The coming trading session will decide the direction. 

Currently on a 15 min time frame price might break the supporting trendline of the peanut pattern and sustain below it. Moreover, it might take support from the 2.7507 level, respecting the previous support. 

If looking for an entry trigger then there are few mentioned below. 

If the price went up for breakdown retesting then the seller may consider entering the trade with a stop loss above the previous swing high and target till 2.7507 level.
If the price continues selling and breaks the 2.7507 level, then sellers may enter trade with a stop loss above the previous swing high and target till 2.6901 level. 

The post Oil and Natural Gas Analysis: Price Decline Continues appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Dollar Index Analysis: Strong Uptrend Faces Resistance Level
next post
EUR/USD & EUR/GBP: Key Support Levels Under Pressure

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

  • National Security Agency Director Gen. Haugh fired, civilian deputy director reassigned: report

    April 4, 2025
  • Fisker Stock News: Price and Forecast

    July 10, 2024
  • Nancy Mace reveals what she wants to hear in Trump’s RNC speech

    July 19, 2024
  • Solana and Cardano: Cardano at a new September high

    September 26, 2024
  • Appeals court blocks Trump from firing federal board members, tees up Supreme Court fight

    April 7, 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 (4,723)
  • Investing (624)
  • Stock (773)

Latest Posts

  • Disney wins the 2024 box office as year-end receipts offer a welcome boost

    January 16, 2025
  • How Nvidia doubled earnings, lost almost $300 billion in value and shook the stock market

    September 5, 2024
  • Nikkei 225 index forms a bullish pattern ahead of Japan GDP data

    August 14, 2024

Recent Posts

  • Dogecoin and Shiba Inu: Dogecoin finds support at 0.10600

    July 10, 2024
  • Asian markets close: Nikkei, Kospi down; Sensex closes 271 pts lower

    May 19, 2025
  • Musk offers ‘another chance’ to respond to productivity email, but warns failure again means termination

    February 25, 2025

Editor’s Pick

  • White House sending $9.4B DOGE cuts package to Congress next week

    May 28, 2025
  • XAIR Stock Price Target and Forecast for 2024

    August 21, 2024
  • Ukraine and North Korean troops clash for first time, Zelenskyy warns of escalation

    November 6, 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