Oil and Natural gas: Natural gas falls to a new low of $2.36

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/shutterstock_545016799.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Oil" decoding="async" loading="lazy" /></div><h1><b>Oil and Natural gas: Natural gas falls to a new low of $2.36</b></h1>
<ul>
<li aria-level="1">Oil price retreated after rising to $74.59 on Friday.</li>
<li aria-level="1">At the market opening last night, the gas price made a bearish gap from $2.52 to the $2.36 level.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>Oil price retreated after rising to $74.59 on Friday. In two attempts on Friday, we had the opportunity to jump over that level, but we failed to move above it, and a retreat followed. We quickly returned below $74.00, and Friday closed at $73.39.</p>
<p>During the Asian session, the <a href="https://www.financebrokerage.com/bitcoin-and-ethereum-bitcoin-pullback-below-42000/">pullback</a> continued, and the price fell below the $73.00 level. In the EU session, we saw a continuation and breakout below the EMA200 moving average, with the formation of this week&#8217;s low at the $72.60 level.</p>
<p>Potential lower targets are $72.50 and $72.00 levels. We need a positive consolidation and stabilization above the EMA200 and the $73.00 level for a bullish option. If we succeed in this, we are in a good position to continue on the bullish side. Potential higher targets are the $73.50 and $74.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-254709 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/Y9Y8B8Hr-1024×598.jpg" alt="Oil chart analysis" width="1024" height="598" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p>At the market opening last night, the gas price made a bearish gap from $2.52 to the $2.36 level. After that, we are looking at a bullish consolidation and recovery to the $2.41 level. We expect to see further recovery in natural gas prices by the end of the day if this consolidation continues. On the bearish side, potential lower targets are $2.35 and $2.30.</p>
<p>For a bullish option, we need to reach the $2.50 level. Thus, we would erase almost the entire loss from the Asian session. The price would form a bottom from which it could continue in further recovery. Potential higher targets are $2.60 and $2.65 levels. The EMA200 moving average is up in the zone around the $2.75 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-254710 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/YmWHCP2O-1024×598.jpg" alt="Natural gas chart analysis" width="1024" height="598" /></p>
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