Oil and natural gas: Oil slips below the $77.00 level

<div><img width="1200" height="800" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/11/Oil-prices-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Oil prices" decoding="async" loading="lazy" /></div><h1><b>Oil and natural gas: Oil slips below the $77.00 level</b></h1>
<ul>
<li aria-level="1">The oil price was retreating during the Asian trading session from $77,30 to $76.30.</li>
<li aria-level="1">Last week’s low price of natural gas was at the $2.95 level.</li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p>The oil price was retreating during the Asian trading session from $77,30 to $76.30. We are stopping at that level right now in the hope that we will be able to get support and start a recovery. The oil price recovered slightly to the $76.50 level, and we need a stronger bullish impulse to move above the $77.00 level. Then, we would approach the price from the market opening at the $77.31 level.</p>
<p>A break above would erase this morning’s price losses, and we would move to the positive side. Potential higher targets are $78.00 and $78.50 levels. Additional <a href="https://www.financebrokerage.com/apecoin-and-akita-inu-apecoin-stops-at-resistance-at-1270/">resistance</a> in the zone of $78.50 lies in the EMA50 moving average. We need a negative consolidation and a drop below the $76.00 level for a bearish option.</p>
<p>After that, we would see the continuation of the fall and the formation of this week’s new low price of oil. Potential lower targets are $75.50 and $75.00 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-239680 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/11/dESFnkM0-1024×620.jpg" alt="Oil chart analysis" width="1024" height="620" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p>Last week’s low price of natural gas was at the $2.95 level. The previous low was formed on Friday, and the price managed to stop there, and at the close of the market, it returned to the $3.00 level. At the market opening this morning, we saw a bullish gap that triggered a bullish consolidation and pushed the price above the $3.15 level. We are now very close to the $3.20 level and encounter potential resistance in the EMA50 moving average.</p>
<p>We need a break above the EMA50 and the $3.20 level in order to capture new momentum and start a further recovery. Potential higher targets are $3.25 and $3.30 levels.</p>
<p>We need a negative consolidation and a price pullback below the $3.10 level for a bearish option. After that, we would again be turned towards support at the $3.00 level. The breakout of the ispof leads to the formation of a new low price and thus confirms the bearish pressure. Potential lower targets are $2.95 and $2.90 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-239682 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/11/C0CrEdNC-1024×620.jpg" alt="Natural gas chart analysis" width="1024" height="620" /></p>
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