• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
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
The dollar index is in a good position to remain bullish
next post
Panama to stick to economic targets despite budget backtrack, minister says

You may also like

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Kraken Rolls Out Commission-Free Stock Trading

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025
    • Charlie Javice sentenced to 7 years in prison for fraudulent $175M sale of aid startup

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (651)
    • Stock (6,426)

    Latest News

    • China outlines more controls on exports of rare earths and technology
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

    Popular News

    • Russian central bank to restrict some new corporate loans as debt burdens climb
    • Russia stocks higher at close of trade; MOEX Russia Index up 1.50%

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy