{"id":3288,"date":"2024-10-07T12:03:12","date_gmt":"2024-10-07T12:03:12","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/07\/oil-and-natural-gas-oil-again-above-75-00-on-friday\/"},"modified":"2024-10-07T12:03:12","modified_gmt":"2024-10-07T12:03:12","slug":"oil-and-natural-gas-oil-again-above-75-00-on-friday","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/07\/oil-and-natural-gas-oil-again-above-75-00-on-friday\/","title":{"rendered":"Oil and natural gas: Oil again above $75.00 on Friday"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Oil and natural gas: Oil again above $75.00 on Friday<\/h1>\n<p><span>The oil price rose to $75.57 on Friday evening, reaching a new October high<\/span><br \/>\n<span>On Friday, the price of natural gas rose to $3.14, a new four-month high<\/span><\/p>\n<h2>Oil chart analysis<\/h2>\n<p><span>The oil price rose to $75.57 on Friday evening, reaching a new October high. Last week\u2019s bullish price jump was 10.00%. After the formation of a new high, oil meets resistance and pulls back to the $74.45 level. This week it is important for us to hold above the $74.00 support zone. A break below would signal a further <a href=\"https:\/\/www.financebrokerage.com\/sp-500-and-nasdaq-new-support-and-targets-on-friday\/\">pullback<\/a>, and we would have to test the EMA 50 moving average and the $73.00 zone.<\/span><\/p>\n<p><span>If the support is insufficient, we expect a further pullback to a new low. Potential lower targets are $72.00 and $71.00 levels. For a bullish option, the oil price needs to be held above the $74.00 support zone. From there, we can expect to see the initiation of a new bullish consolidation. Potential higher targets are $76.00 and $77.00 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Natural gas chart analysis<\/h2>\n<p><span>On Friday, the price of natural gas rose to $3.14, a new four-month high. The formation of this high was soon followed by a strong bearish impulse and a fall to $2.98. The price is again below $3.00 and it closed there at the end of the trading day. Despite the strong bearish consolidation, if we manage to stay above $2.95 last week\u2019s support zone, we can hope for a new bullish consolidation.<\/span><\/p>\n<p><span>Potential higher targets are $3.05 and $3.10 levels. For a bearish option, we need a negative consolidation below $2.95. In that zone, we will try to get support from the EMA 200 moving average. This time, we need an impulse below and the formation of a new low. Potential lower targets are $2.90 and $2.85 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/oil-and-natural-gas-oil-again-above-new-nigh-on-friday\/\">Oil and natural gas: Oil again above $75.00 on Friday<\/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 again above $75.00 on Friday The oil price rose to $75.57 on Friday evening, reaching a new October high On Friday, the price of natural gas rose to $3.14, a new four-month high Oil chart analysis The oil price rose to $75.57 on Friday evening, reaching a new October high. [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3289,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3288","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\/3288","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=3288"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3288\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3289"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}