Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

Oil and natural gas: oil loses pace and falls again

by August 16, 2024
August 16, 2024
Oil and natural gas: oil loses pace and falls again

Oil and natural gas: oil loses pace and falls again

At the market’s opening this morning, the oil price made a significant bearish gap from $78.16 to $76.80
The price of natural gas rose to a new weekly high on Thursday at the $2.37 level

Oil chart analysis

At the market’s opening this morning, the oil price made a significant bearish gap from $78.16 to $76.80. This movement, which occurred during this morning’s Asian session in the $76.60-$76.80 range, has placed the price below the weekly open price and is under pressure to trigger a further pullback. The EMA 200 moving average, now on the bearish side, adds to this pressure. We’re looking at potential lower targets at $76.50 and $76.00 levels, signaling a cautious outlook.

For a bullish option, it’s crucial that the oil price regains ground above the $77.00 level. This not only brings us back above the weekly open price but also sets the stage for a potential bullish continuation. A move to $77.50 would provide additional support from the EMA 200 moving average, signaling a potential shift in momentum and higher targets at the $78.00 and $78.50 levels.

 

Natural gas chart analysis

The price of natural gas rose to a new weekly high on Thursday at the $2.37 level. Growth stopped there, and the price initiated a pullback from that level to the $2.27 support level. During this morning’s Asian trading session, the price moved in the $2.27-$2.29 range. Natural gas has stabilized in this zone for now and could initiate a bullish consolidation above the daily open price. With that step, we move to the positive side, and the optimism for the bullish option increases.

Potential higher targets are the $2.32 and $2.34 levels. For a bearish option, we need a negative consolidation and a move down to the $2.26 level. With that step, we move to a new daily low and confirm the weakness of the natural gas price. Potential lower targets are the $2.24 and $2.22 levels.

 

The post Oil and natural gas: oil loses pace and falls again appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
Gold and silver: gold enters a certain consolidation zone
next post
His love of music is helping refugees and immigrants build new lives

You may also like

Inflation In France Takes a Sudden Plunge in...

September 27, 2024

Kohl’s Shares Plunge 11%

November 26, 2024

AUDUSD and AUDNZD: AUDUSD has an opportunity to...

August 23, 2024

USDCHF and USDJPY: New Weekly Targets and Prices

October 7, 2024

ApeCoin and Akita Inu: Daily Overview of Prices...

October 3, 2024

Bitcoin and Ethereum Analysis: Price Movement & Key...

November 4, 2024

Stellar and Bitcoin Cash: Stellar pressures the weekly...

August 22, 2024

EURUSD and GBPUSD: Euro under pressure drops below

September 27, 2024

ApeCoin and Akita Inu: ApeCoin tries to retain...

September 3, 2024

SafeMoon and Litecoin: LItecoin is approaching a new...

August 15, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


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



    Latest

    • Patel touts FBI’s dozens of convictions in $250 million Minnesota COVID scam

      July 18, 2025
    • State Department says 59,000 tons of food assistance are in motion after reports of incinerated aid

      July 18, 2025
    • Pentagon to probe Microsoft’s use of Chinese engineers on sensitive defense systems, Hegseth says

      July 18, 2025
    • GOP senator reveals the ‘dirty’ secret to Trump’s Make America Healthy Again movement

      July 18, 2025
    • Russia says NATO threatens WWIII in latest deterrence plan that could take down Kaliningrad ‘faster than ever’

      July 18, 2025
    • Pro-Israel congressman accuses Tel Aviv of ‘mocking’ Trump with ‘suicidal’ strikes in Syria

      July 18, 2025

    Categories

    • Business (721)
    • Investing (661)
    • Politics (4,978)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.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 © 2024 WhaleLargeCapital.com | All Rights Reserved