{"id":1015,"date":"2024-08-21T18:00:23","date_gmt":"2024-08-21T18:00:23","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/21\/oil-and-natural-gas-oil-finds-new-support-this-morning\/"},"modified":"2024-08-21T18:00:23","modified_gmt":"2024-08-21T18:00:23","slug":"oil-and-natural-gas-oil-finds-new-support-this-morning","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/21\/oil-and-natural-gas-oil-finds-new-support-this-morning\/","title":{"rendered":"Oil and natural gas: Oil finds new support this morning"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Oil and natural gas: Oil finds new support this morning<\/h1>\n<p><span>During this morning\u2019s Asian trading session, the oil price was maintained around the $73.00 level<\/span><br \/>\n<span>The new weekly high price of natural gas was formed on Tuesday at the $2.37 level<\/span><\/p>\n<h2>Oil chart analysis<\/h2>\n<p><span>During this morning\u2019s Asian trading session, the oil price was maintained around the $73.00 level. A slight bullish <a href=\"https:\/\/www.financebrokerage.com\/eurusd-and-gbpusd-gbpusd-climbs-to-a-new-august-high\/\">consolidation<\/a> is on the chart up to the $73.50 level. Just above is the EMA 50 moving average, which could be an obstacle to further oil price recovery. If we were to see a break above this time, it would lead us to a new daily high. They would also get support from the EMA 50 to continue to the bullish side.<\/span><\/p>\n<p><span>Potential higher targets are the $74.00 and $74.50 levels. For a bearish option, we need a negative consolidation and a drop in oil prices below the $73.00 level. With that step, the bearish momentum is strengthened, and the price would be under pressure to start a further retreat. Potential lower targets are the $72.50 and $72.00 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Natural gas chart analysis<\/h2>\n<p><span>The new weekly high price of natural gas was formed on Tuesday at the $2.37 level. After that, the price fell back to $2.28 with a couple of strong bearish impulses. During this morning\u2019s Asian trading session, we moved in the $2.29-$2.32 range. There, we get support from the EMA 50 moving average and break the previous range of the move. With that, we formed a new daily high at the $2.34 level. For now, we are staying in that zone and need new impulses to continue to the bullish side.<\/span><\/p>\n<p><span>Potential higher targets are the $2.36 and $2.38 levels. For a bearish option, we need a negative consolidation and a drop below the $2.30 level. This would put the price of natural gas under pressure to strengthen the bearish momentum. Potential lower targets are the $2.28 and $2.26 levels. The EMA 200 moving average provides additional support for the price at $2.26.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/oil-and-natural-gas-oil-finds-new-support-this-morning\/\">Oil and natural gas: Oil finds new support this morning<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Oil and natural gas: Oil finds new support this morning During this morning\u2019s Asian trading session, the oil price was maintained around the $73.00 level The new weekly high price of natural gas was formed on Tuesday at the $2.37 level Oil chart analysis During this morning\u2019s Asian trading session, the oil price was maintained [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=1015"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/1016"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=1015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=1015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=1015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}