The oil has returned to the positive side

• On Tuesday, the price of oil fell to a new minimum of July, $ 74.59.
• During this morning's Asian negotiation session, the price of natural gas rose to a new weekly maximum at the level of $ 2.16.

Petroleum Graphics Analysis

On Tuesday, the price of oil fell to a new minimum of July, $ 74.59. Shortly after stabilizing at that level, a bullish consolidation began. During this morning's Asian negotiation session, the price of oil began a strong bullish consolidation. It quickly recovered above $ 76.00, finding support in the mobile average EMA 50. After that, the growth continued at $ 77.50 and the mobile average EMA 200.

In this area, we can expect some resistance to continue on the upward side. The potential higher objectives are the levels of $ 78.00 and $ 78.50. For a bearish option, we need a negative consolidation and setback below the level of $ 77.00. This takes us back to the negative side below the weekly open price. After that, we hope to see an additional setback and a search for a new support. Potential lower objectives are $ 76.50 and $ 76.00 levels.

Natural Gas Table Analysis

During this morning's Asian negotiation session, the price of natural gas rose to a new weekly maximum at the level of $ 2.16. The inability of the price to stabilize and continue on the upward side led to the beginning of the Bassist consolidation and the EU session at the level of $ 2.08. We are back below the mobile average EMA 200 again, which joined the bearish impulse.

Potential lower objectives are $ 2.06 and $ 2.04 levels. Upon returning to these levels, it would be forced to prove the weekly open price. For an upward option, we must stop this bassist impulse and stabilize the price at the level of $ 2.10. If we succeed in this, we can expect to start consolidation and upward recovery. The potential higher objectives are the levels of $ 2.12 and $ 2.14.