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

Oil & Gas Trends: Resistance Rejections & Trade Setups

by October 31, 2024
written by October 31, 2024

Overall Analysis

Oil continues its momentum towards downside with swing creation indicating selling opportunities. 
Natural Gas trying to break selling trend, but 0.5 feb retracement gives strong reject. 

Oil Chart Analysis

Oil/USD 15-Minute Chart (Source: TradingView)

On the 29th Oct 2024 oil price showed high volatile behavior, price is currently following a channel based moment. Where price can be seen rejecting the resistance trendline, overall the market is in the selling zone. 

Currently if we look at the price which is taking a trendline support to move upwards, in this strong build up can be seen, breaking of resistance trendline will not instantly trigger buy position. 

If we look at the historic data, when price takes rejection from resistance trendline it falls sharply towards supporting trendline. 

For a potential entry, one should plan to hold the trade long-term. If the price rejects the resistance trendline, consider a selling entry with a target at the support trendline and a stop loss set at the 68.42 level.

Natural Gas Chart Analysis 

Gas/USD 15-Minute Chart (Source: TradingView)

On 29th Oct 2024  price showed a volatile behavior, where after opening price showed a selling behavior and broke previous day low, creating a double bottom pattern. On the same the price went up and broke the patterns neckline and achieved target but with high volatility. 

As we can see natural gas faced huge selling on 28th Oct 2024 and when price went up to respect the double bottom pattern, 0.5 level of Fib retracement gave healthy rejection taking the price in sideways direction. 

If planning for an entry than there are few setup which one can follow to create position. Please note due to high volatility one be trap of stop loss hunting 

If prices successfully breaks fib retracement 0.5 level, than wait for price to break 2.9512 level and close above it for the target of 3.0020 with the stop loss of 2.2915
If price breaks the golden ration of 0.6 and falls than wait for price to break 2.8740 level and make position ones price closes below the level for the targets of 2.8470 and 2.8150 with stop loss of 2.9030

The post Oil & Gas Trends: Resistance Rejections & Trade Setups appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Australia stocks lower at close of trade; S&P/ASX 200 down 0.25%
next post
Analysis-Europe’s small arms company’s struggle for cash despite military spending boom

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

    • Dollar hovers near 3-week high before Fed; bitcoin tops $105,000
    • Earnings call: Five Point Holdings reports $12.3m Q3 profit, extends Great Park deal

    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