Oil and natural gas: Oil hits new high at $95.00 level

<div><img width="1000" height="575" src="https://6ztkp25f.tinifycdn.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 and natural gas: Oil hits new high at $95.00 level</b></h1>
<ul>
<li aria-level="1">The oil price climbed to a new one-year high yesterday at $95,00.</li>
<li aria-level="1">The price of natural gas was in a bullish trend this week from $2.62 to $2.82 level.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>The oil price climbed to a new one-year high yesterday at $95,00. At that level, we encounter <a href="https://www.financebrokerage.com/oil-and-natural-gas-oil-remains-below-resistance-at-72-00/">resistance</a>, and the price begins to retreat. The decline was stopped at the $91.40 level, and we have been holding above that level since then. During the Asian trading session, the price tried to climb above the $92.00 level, but it ended without success. We remain in the support zone, and the price is still under pressure to break below and continue the pullback. Potential lower targets are $90.50 and $90.00 levels.</p>
<p>We need a positive consolidation and price movement to the $92.50 level for a bullish option. Then, we need to hold up there in order to initiate a continuation to the bullish side from there. Potential higher targets are $93.00 and $94.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-230014 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/09/rJhJMdld-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 was in a bullish trend this week from $2.62 to $2.82 level. During the Asian trading session, a new high was formed at the $2.82 level. There, we encounter resistance and see a pullback to the $2.78 level. Here, we have temporarily stopped the price pullback and could form a new bottom from which we would start a bullish consolidation. Potential higher targets are $2.84 and $2.86 levels.</p>
<p>We need a negative consolidation and price pullback to the $2.75 level for a bearish option. A break below would drop us to a test of previous support levels. Potential lower targets are $2.74 and $2.72 levels. Additional price support is in the EMA50 moving average in the zone around the $2.70 level.</p>
<p><a href="https://www.tradingview.com/x/9rQ2S7St/"><img decoding="async" loading="lazy" class="aligncenter wp-image-230015 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/09/9rQ2S7St-1024×620.jpg" alt="Natural gas chart analysis" width="1024" height="620" /></a></p>
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