Oil and natural gas: Oil stable above the $90.00 level

<div><img width="1200" height="795" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/03/oil-4-1.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 stable above the $90.00 level</b></h1>
<ul>
<li aria-level="1"><span>During the Asian session, the oil price moved in the $90.00-$90.60 range.</span></li>
<li aria-level="1"><span>During the Asian <a href="https://www.financebrokerage.com/crucial-trading/">trading</a> session, the price of natural gas was retreating from the $2.71 level. </span></li>
</ul>
<h2><b>Oil chart analysis</b></h2>
<p><span>During the Asian session, the oil price moved in the $90.00-$90.60 range. At the beginning of the EU session, the price managed to climb up to the $90.80 level, and today’s high was formed there. For now, we have resistance at that level and are retreating to new support at the $90.25 level. It is possible that we will see a continuation of the growth to the <a href="https://www.financebrokerage.com/the-dollar-index-remains-on-its-bullish-path-towards-103-00/">bullish</a> side and a break above the $91.00 level. Potential higher targets are $91.30 and $91.50 levels.</span></p>
<p><span>We need a negative consolidation and a new pullback to the $90.00 support level for a bearish option. After that, we could expect increased pressure at that level, which would produce a breakout below and the formation of this week’s new low. Potential lower targets are $89.50 and $89.00 levels.</span></p>
<p><img decoding="async" loading="lazy" class="alignnone size-large wp-image-228661" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/09/Oil-chart-analysis-1024×620.jpg" alt="Oil chart analysis" width="1024" height="620" /></p>
<h2><b>Natural gas chart analysis</b></h2>
<p><span>During the Asian trading session, the price of natural gas was retreating from the $2.71 level. The decline continued in the EU session with the formation of a low at the $2.67 level. We soon came across the EMA50 moving average, which could provide price support in stopping this pullback. A break below this support would mean that the price has no strength to recover, and we will see a continuation of the decline to lower levels. Potential lower targets are $2.66 and $2.64 levels.</span></p>
<p><span>We need a positive consolidation and a return above the $2.70 level for a bullish option. Then, we need a new breakout above in order to launch further recovery with the next impulse. Potential higher targets are the $2.72 and $2.74 levels.</span></p>
<p><img decoding="async" loading="lazy" class="alignnone size-large wp-image-228663" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/09/Natural-gas-chart-analysis-1024×620.jpg" alt="Natural gas chart analysis" width="1024" height="620" /></p>
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