Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

Oil and natural gas: Oil hits new high at $95.00 level

Oil and natural gas: Oil hits new high at $95.00 level

The oil price climbed to a new one-year high yesterday at $95,00.
The price of natural gas was in a bullish trend this week from $2.62 to $2.82 level.

Oil chart analysis

The oil price climbed to a new one-year high yesterday at $95,00. At that level, we encounter resistance, and the price begins to retreat. The decline was stopped at the $91.40 level, and we have been holding above that level since then. During the Asian trading session, the price tried to climb above the $92.00 level, but it ended without success. We remain in the support zone, and the price is still under pressure to break below and continue the pullback. Potential lower targets are $90.50 and $90.00 levels.

We need a positive consolidation and price movement to the $92.50 level for a bullish option. Then, we need to hold up there in order to initiate a continuation to the bullish side from there. Potential higher targets are $93.00 and $94.00 levels.

Natural gas chart analysis

The price of natural gas was in a bullish trend this week from $2.62 to $2.82 level. During the Asian trading session, a new high was formed at the $2.82 level. There, we encounter resistance and see a pullback to the $2.78 level. Here, we have temporarily stopped the price pullback and could form a new bottom from which we would start a bullish consolidation. Potential higher targets are $2.84 and $2.86 levels.

We need a negative consolidation and price pullback to the $2.75 level for a bearish option. A break below would drop us to a test of previous support levels. Potential lower targets are $2.74 and $2.72 levels. Additional price support is in the EMA50 moving average in the zone around the $2.70 level.

 

The post Oil and natural gas: Oil hits new high at $95.00 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive 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!

    You May Also Like

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Latest News

    A week ago, a Jan. 6 defendant was arrested near Barack Obama’s in D.C. with what the government says was a machete, two guns...

    Disclaimer: Deluxeinvestmentgroup.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 © 2023 deluxeinvestmentgroup.com