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 jumped to $86.00 this morning

Oil and natural gas: Oil jumped to $86.00 this morning

At the opening of the Asian session last night, the oil price reached the $86.00 level.
The price of natural gas made a bearish gap at the beginning of the Asian session, falling to the $2.58 level.

Oil chart analysis

At the opening of the Asian session last night, the oil price reached the $86.00 level. After that, we see a negative consolidation and pullback to the $85.30 level. The current picture tells us that we could see a continuation of the pullback and a test of the $85.00 level. A price drop below this support could negatively affect the trend and send us to lower levels. Potential lower targets are $84.50 and $84.00 levels.

We need a positive consolidation and return to the $86.00 resistance level for a bullish option. Then we need a breakout above and try to hold up there. With the new impulse, we could expect to see further growth and recovery in the price of oil. Potential higher targets are the $86.50 and $87.00 levels.

Natural gas chart analysis

The price of natural gas made a bearish gap at the beginning of the Asian session, falling to the $2.58 level. After that, we see a bullish consolidation and price recovery to $2.64. We can expect to see continued recovery and closing of the gap from the market opening last night. At the current level, we have support in the EMA50 moving average and expect its help in the continuation of the recovery.

Potential higher targets are $2.66 and $2.68 levels. For a bearish option, we need a negative consolidation and a new pullback to support at the $2.58 level. A break below this support would form a new September low. Potential lower targets are $2.56 and $2.54 levels.

 

The post Oil and natural gas: Oil jumped to $86.00 this morning 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

    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...

    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

    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