The Revenue Rises
Trending Now
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
DP Trading Room: Key Support Levels for the...
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
Stock Market News UK Update: FTSE 100 &...
Retirees ‘stunned’ as market turmoil over tariffs shrinks...
Week Ahead: NIFTY Set To Open Lower; Relative...
Market Drop Compared to 2020: What You Need...

The Revenue Rises

Economy

Oil and Natural Gas: Friday Targets and Prices

by admin October 26, 2024
October 26, 2024
Oil and Natural Gas: Friday Targets and Prices

Oil and Natural Gas: Friday Targets and Prices

  • The oil price reached a new weekly high of $72.34 on Thursday, October 24
  • The price of natural gas managed to regain the $3.00 level on Thursday, October 24

Oil chart analysis

The oil price reached a new weekly high of $72.34 on Thursday, October 24. Shortly after the formation of this high, the price began to retreat, and by the end of the day, we were again below the $70.00 level. During this morning’s Asian session, oil is moving in the $70.20-$70.60 range. In the EU session, we see increasing price pressure and new testing of the $70.00 level.

Bearish momentum is building and we expect to see a break of yesterday’s low of $69.80 and the formation of a new one below. Potential lower targets are $69.50 and $69.00 levels. For a bullish option, we need a new bullish consolidation above the $70.60 level. With that step, we strengthen the bullish momentum and expect a continuation until the next resistance in the $71.00 zone. Here, we are waiting for the EMA 200 moving average, which could be an obstacle for oil to continue on the bullish side. If we break above, potential higher targets are $71.50 and $72.00 levels.

 

Natural gas chart analysis

The price of natural gas managed to regain the $3.00 level on Thursday, October 24. The previous time at that level, the price was on October 7. During this morning’s Asian session, the price moved in the zone around $3.00, and now we will see new pressure in the EU session. We are fighting to stay above the daily open level of $2.97. If the current bearish trend continues, we will see a break below and the formation of a new daily low.

After that, natural gas will be under greater pressure to continue withdrawal. Potential lower targets are $2.95 and $2.90 levels. For a bullish option, it is necessary for the price to maintain above the daily open level and start a bullish consolidation. After that, we have an opportunity to test the previous high. If the momentum holds, we will see the formation of a new weekly high. Potential higher targets are $3.05 and $3.10 levels.

 

The post Oil and Natural Gas: Friday Targets and Prices appeared first on FinanceBrokerage.

previous post
S&P 500 and Nasdaq: Prices and Targets for Friday
next post
S&P 500 and Nasdaq: Prices and Targets for Friday

Related Posts

Gold and Silver: Gold remains stable in the...

August 1, 2024

Stock Futures Lower after S&P 500 futures ticked...

December 22, 2024

Bitcoin & Ethereum Analysis: BTC Hits High, ETH...

November 17, 2024

Could Bitcoin Reach $200000? Market & Expert Insights

March 3, 2025

Oil Breaks Key Pattern: Oil Volatility & Natural...

November 11, 2024

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped...

January 26, 2025

Dollar Index Analysis: Strong Uptrend Faces Resistance Level

November 13, 2024

Solana and Cardano: Solana remains above new support.

September 6, 2024

Asian Stocks Plunge Amid Global and US Recession...

August 6, 2024

Could Bitcoin Reach $200000? Market & Expert Insights

March 17, 2025

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


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

    Recent Posts

    • Stock Market News UK Update: FTSE 100 & 250 Rise
    • Stock Market News UK Update: FTSE 100 & 250 Rise
    • DP Trading Room: Key Support Levels for the SPY
    • Stock Market News UK Update: FTSE 100 & 250 Rise
    • Stock Market News UK Update: FTSE 100 & 250 Rise

    Popular Posts

    • 1

      Polls show some good early signs for Kamala Harris

      July 26, 2024
    • 2

      Solana and Cardano: Solana is waiting for a new impulse

      July 18, 2024
    • 3

      The presidential race shifts — modestly, so far — toward Harris

      August 6, 2024
    • 4

      Donald Trump’s imaginary and frightening world

      September 23, 2024
    • 5

      DP Trading Room: PMO Sort on Earnings Darlings

      July 18, 2024

    Categories

    • Business (663)
    • Economy (965)
    • Politics (873)
    • Stocks (749)

    Disclaimer: therevenuerises.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 The Revenue Rises. All Rights Reserved.