Natural Gas vs Oil Technical Analysis | Natural Gas vs Oil Trading: 2023-04-18 | IFCM India
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Natural Gas vs Oil Technical Analysis - Natural Gas vs Oil Trading: 2023-04-18

Gas Oil Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 0,53

Buy Stop

Below 0,43

Stop Loss

Mary Wild
Mary Wild
Senior Analytical Expert
Articles2058
IndicatorSignal
RSI Buy
MACD Sell
MA(200) Neutral
Fractals Buy
Parabolic SAR Buy
Bollinger Bands Neutral

Gas Oil Chart Analysis

Gas Oil Chart Analysis

Gas Oil Technical Analysis

On the daily timeframe, GAS/OIL: D1 failed to break down the support line of the long-term downward channel and is trying to correct upwards. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if GAS/OIL: D1 rises above the last high of 0.53. This level can be used as an entry point. Initial risk cap possible below Parabolic signal, latest down fractal and low since May 2012: 0.43. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (0.43) without activating the order (0.53), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of PCI - Gas Oil

In this review, we propose to consider a personal composite instrument (PCI) &GAS / OIL - it reflects the dynamics of changes in the cost of American natural gas relative to American WTI light oil. Will GAS/OIL quotes rise?

The rise means that natural gas is in higher demand than oil. Liquefied natural gas (LNG) exports may increase in the US. In particular, the US Department of Energy approved the supply of LNG to Asian countries as part of the Alaska Gasline Development Corp. project. It is expected to be fully operational by 2030. Nevertheless, market participants reacted positively to this information. Cold weather forecasts for the eastern US also pushed up natural gas prices. In turn, the cost of oil may correct downward against the background of the strengthening of the US dollar. In addition, countries from the Group of Seven (G7) are planning to take measures to limit the cost of Russian oil in the framework of economic sanctions. Recall that on April 18, important economic data will be published in China that can affect oil quotes (GDP, industrial production, retail sales, unemployment).

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Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.

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