Oil and Natural Gas: Oil remains high above $82.00

<div><img width="1200" height="798" src="https://www.financebrokerage.com/wp-content/uploads/2023/01/Oil.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 remains high above $82.00</b></h1>
<ul>
<li aria-level="1">During the Asian trading session, the oil price was retreating from the $83.26 level.</li>
<li aria-level="1">During the Asian trading session, the price of natural gas was consolidated above the $2.58 level.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>During the Asian trading session, the oil price was retreating from the $83.26 level. We are currently at the $82.40 level, and based on today’s consolidation, we can expect a continued pullback to the $82.00 level. Depending on the <a href="https://www.financebrokerage.com/gbp-to-usd-forex-signal-bearish-breakdown-towards-1-2238/">bearish</a> pressure, the formation of a new low will also depend. Potential lower targets are $81.50, $81.00 and $80.50 levels.</p>
<p>Additional price support could be at the $80.50 level in the EMA50 moving average. We need a positive consolidation and a move to the $82.50 level for a bullish option. Then we need to hold on up there and, with a new impulse, go to the previous high, an 83.26$ level. Potential higher targets are $83.50 and $84.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-217294 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/Zii9uPug-1024×641.jpg" alt="Oil chart analysis" width="1024" height="641" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p>During the Asian trading session, the price of natural gas was consolidated above the $2.58 level. In the EU session, we see a bullish impulse and a push to the $2.60 level. If we managed to hold on here now, we could start a further recovery and increase gas prices. Potential higher targets are $2.62 and $2.64 levels.</p>
<p>We need a negative consolidation and a price pullback below the $2.58 level for a bearish option. With a breakout below, gas prices would fall below the EMA50 moving average, which would have a negative impact. Potential lower targets are $2.56 and $2.54 levels. Natural gas has been in a bearish trend since July 26 after rising to the $2.76.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-217295 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/3dlWUDFB-1024×641.jpg" alt="Natural gas chart analysis" width="1024" height="641" /></p>
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