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Oil and Natural Gas: Price drop
The oil price retested $92.00 yesterday, after which we saw the price drop to the $88.00 level. During the Asian trading session, the price of oil recovered to the $89.40 level. There we now have a new obstacle, and the price is once again turning towards the $88.00 support zone. We need a continuation of negative consolidation and a drop below this morning’s support zone for a bearish option. Potential lower targets are $87.00 and $86.00 levels. We need a positive consolidation and a return above the 90,004 level for a bullish option. Then we need to hold above to consolidate and continue further towards the ... (full story)
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- Posted: Aug 5, 2022 4:15pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 67
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