Oil & Natural Gas Technical Outlook: Crude Hits Resistance as Gas Keeps Climbing

Oil prices are trading in a narrow band as supply disruptions—such as U.S. sanctions and drone strikes on Russian refineries—raise concerns about refined fuel availability, yet the broader crude market remains under pressure from fears of a global supply surplus. On the daily chart, WTI Crude Oil is consolidating below the $60 mark, with the 50‑ and 200‑day simple moving averages (SMAs) still pointing downward. A decisive break above $62.50 could open a move toward $65, while a fall below the $59 region might trigger a slide to $55.50. Meanwhile, Natural Gas is showing strong bullish momentum. It has broken above the $3.50 level and the 50‑day SMA is crossing above the 200‑day SMA — a classic bullish sign. A breakout above $4.50 could fuel further gains, but the RSI is signalling overbought conditions, hinting at a possible short‑term pullback. Also worth watching: the US Dollar Index is consolidating below its 200‑day SMA near 100.50. A break above that level could push toward 102, while a drop below 98.20 might set the stage for a slide to 96.50. The dollar’s direction could add fuel to energy price moves. #OilMarkets #NaturalGasSurge #EnergyOutlook #CommodityAnalysis #SlimScan #GrowthStocks #CANSLIM