Oil falls below $73.00; Natural Gas tests the $2.50 level

<div><img width="1000" height="575" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/shutterstock_365888501.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Oil" decoding="async" loading="lazy" /></div><h1><b>Oil falls below $73.00; Natural Gas tests the $2.50 level</b></h1>
<ul>
<li aria-level="1">During the Asian trading session, oil prices continued to slide below the $75.00 level.</li>
<li aria-level="1">During the Asian trading session, the price of natural gas continued its retreat to a new low this week.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>During the Asian trading session, oil prices continued to slide below the $75.00 level. We are currently below the $73.00 level in a bearish consolidation and expect to see a continuation to the bearish side, looking for support at lower levels. Potential lower targets are $72.50 and $72.00 levels. The previous low price of oil was in mid-November at the $72.13 level, and if we break through that level, the price could continue towards the $70.00 level.</p>
<p>We need a positive consolidation and a return to the $75.00 level for a <a href="https://www.financebrokerage.com/bitcoin-ethereum-dogecoin-bullish-options-on-charts/">bullish option</a>. Then, we would have to stay above that level to form a bottom from which to start the recovery. Potential higher targets are $75.50 and $76.00 levels. The additional average price in the zone is around $76.00 is the EMA50 moving average.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-244887 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/jHC5tEgX-1024×620.jpg" alt="Oil chart analysis" width="1024" height="620" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p>During the Asian trading session, the price of natural gas continued its retreat to a new low this week. A low was formed at the $2.51 level, and we can say that we are now testing the $2.50 support level. The price has been in a bearish consolidation for almost a month. The $2.50 level could be a psychological level below; around it, we could expect to see some struggle to stay above.</p>
<p>A break below leads to the formation of a new low, and the potential targets are the $2.45 and $2.40 levels. For a bullish option, we need a positive consolidation and a move above the $2.55 level, and in that way, we would climb above the previous daily low. This would encourage the price to start a recovery and a bullish trend. Potential higher targets are $2.60 and $2.65 levels. We would have additional resistance in the EMA50 moving average around the $2.65 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-244888 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/0eSd0sGx-1024×620.jpg" alt="Natural gas chart analysis" width="1024" height="620" /></p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://www.financebrokerage.com/oil-falls-below-73-00-natural-gas-tests-the-2-50-level/">Oil falls below $73.00; Natural Gas tests the $2.50 level</a> appeared first on <a rel="nofollow" href="https://www.financebrokerage.com">FinanceBrokerage</a>.</p>