Oil and natural gas: Oil pressures the $72.00 price

<div><img width="1000" height="667" src="https://www.financebrokerage.com/wp-content/uploads/2022/07/shutterstock_1908761479.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Oil trading" decoding="async" loading="lazy" /></div><h1><b>Oil and natural gas: Oil pressures the $72.00 price</b></h1>
<ul>
<li aria-level="1">On Wednesday, the oil price was released from pressure after falling to $67.68.</li>
<li aria-level="1">The price of natural gas is in a bullish consolidation after Wednesday&#8217;s drop to the $2.14 level.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>On Wednesday, the oil price was released from pressure after falling to $67.68. From that level, we see the acceleration of bullish consolidation, which yesterday raised the price to the $72.50 level. During the Asian trading session, oil dropped to $71.50, where it successfully gained support and is now rising above the $72.00 level with <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-euro-in-bullish-consolidation-to-1-05400/">bullish consolidation</a>. The price received additional support in the EMA50 moving average, which reduces the pressure on the price.</p>
<p>Potential higher targets are $73.00 and $73.50 levels. We would have to go back below the $71.00 level for a bearish option again. With that, we would retreat below the EMA50 moving average, which would have a negative impact on prices and their movement. Potential lower targets are $70.50 and $70.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-247570 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/5RYtZ0W6-1024×620.jpg" alt="Oil chart analysis" width="1024" height="620" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p>The price of natural gas is in a bullish consolidation after Wednesday&#8217;s drop to the $2.14 level. This morning, prices formed a three-day high at $2.34. After that, it retreated to support at the $2.28 level. We managed to hold above that level and now expect to see another bullish consolidation. In the following, we will first test the previous high and then the EMA50 moving average. A break above these two resistances would bring us new highs and confirmation of the bullish option.</p>
<p>Potential higher targets are $2.36 and $2.38 levels. For a bearish option, you need a pullback to $2.20 of the previous support zone. A drop below would bring us back to the bearish side, and the price would be under pressure to start a further retreat. Potential lower targets are $2.20 and $2.18 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-247571 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/qCibpV3C-1024×620.jpg" alt="Natural gas chart analysis" width="1024" height="620" /></p>
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