Oil and Natural Gas: Oil again at $80.00 on Friday

<div><img width="1153" height="768" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/05/shutterstock_1664994739.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Natural Gas News: Comparative Analysis and Outlook" decoding="async" loading="lazy" /></div><h1><b>Oil and Natural Gas: Oil again at $80.00 on Friday</b></h1>
<ul>
<li aria-level="1">On Friday, we saw a new drop in oil prices to $80.00.</li>
<li aria-level="1">At the beginning of the Asian trading session, we saw a bearish gap in natural gas prices at the $3.37 level.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>On Friday, we saw a new drop in oil prices to $80.00. During the previous Asian trading session, the oil price was in bullish consolidation up to $82.00. For now, we encounter resistance in that zone and see a pullback to the $81.65 level.</p>
<p>We remain in this bullish <a href="https://www.financebrokerage.com/the-dollar-index-with-bullish-consolidation-rises-to-101-00/">consolidation</a>, hoping to see a break above $82.00 and a continuation to the bullish side. Potential higher targets are $82.50 and $83.00 levels.</p>
<p>Additional pressure on the price in the zone around $83.00 was exerted by the EMA50 moving average. For a bearish option, we need a negative consolidation and pullback to this morning’s support at the $81.00 level.</p>
<p>A break below would signal a retest of last week’s support at $80.00. Potential lower targets are $79.50 and $79.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-238305 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/11/BtlOHJoZ-1024×620.jpg" alt="Oil chart analysis" width="1024" height="620" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p>At the beginning of the Asian trading session, we saw a bearish gap in natural gas prices at the $3.37 level. In the continuation of the Asian session, the price continued to move sideways in the $3.36-$3.40 range.</p>
<p>We have additional support in this zone in the EMA50 moving average. If we manage to stay above it, we will have a good basis for continuing to the bullish side and closing the gap from the opening of the market last night.</p>
<p>Potential higher targets are $3.45 and $3.50 levels. For a bearish option, we need a negative consolidation and a drop below the EMA50 and the $3.35 level. A break below would confirm a bearish option, and we would see a continued pullback in natural gas prices. Potential lower targets are $3.30 and $3.25 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-238306 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/11/OxuoyLYj-1024×620.jpg" alt="Natural gas chart analysis" width="1024" height="620" /></p>
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