- Analytics
- Technical Analysis
Natural Gas vs Oil Technical Analysis - Natural Gas vs Oil Trading: 2022-09-06
Oil vs Gas Technical Analysis Summary
Above 0,433
Buy Stop
Below 0,333
Stop Loss
| Indicator | Signal |
| RSI | Buy |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Buy |
| Bollinger Bands | Neutral |
Oil vs Gas Chart Analysis
Oil vs Gas Technical Analysis
On the daily timeframe, SumOIL/GAS: D1 approached the downtrend resistance line. It must be broken up before opening a position. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if SumOIL/GAS: D1 rises above its latest up fractal: 0.433. This level can be used as an entry point. Initial risk cap is possible below the Parabolic signal, the lower Bollinger band and the last 4 lower fractals: 0.333. 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 (0.333) without activating the order (0.433), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of PCI - Oil vs Gas
Let's review the Personal Composite Instrument (PCI) &SumOIL/GAS. It reflects the price dynamics of a portfolio of futures for two brands of oil - Brent and WTI against natural gas futures. Will the SumOIL/GAS quotes go up?
OPEC+ has decided to cut oil production in October by 100,000 bpd. At the same time, it will return to the level of August this year and remain at the pre-coronavirus level. The main reason for the decline in production was the emerging slowdown in global economic growth, which could have a negative impact on oil demand. Another factor could be the introduction of a coronavirus lockdown in the Chinese city of Chengdu. Stabilization of oil quotes may support the increase (correction) &SumOIL/GAS, as oil is far behind natural gas in growth. Over the past 12 months, Brent has risen in price by 30.5%, WTI - by 27.6%. During the same time, the price of Natural Gas Futures soared 90.3%. Against this background, &SumOIL/GAS at the end of August fell to the lows of the coronavirus epidemic in April 2020 and the global economic crisis in 2008.
- Get Certificate
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.
