Energy Crisis Brewing? Crude Oil & Natty Gas Price Breakouts Stir Worries

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by  Kimble Charting

The coronavirus crash in the spring of 2020 left crude oil and natural gas prices decimated. An energy crisis was but a remote thought as oil and gas traded at multi-year lows.

Fast forward to today and what a difference 18 months makes!

Prices have surged. Late last month, we highlighted the breakout in Natural Gas prices, and today we are adding Crude Oil to the mix.

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In today’s chart 2-pack, we wonder if the markets are “brewing up an energy crisis?” Below are long-term “monthly” price charts of Natural Gas and Crude Oil.

As you can see, Natural Gas and Crude Oil are working on breaking above 12-year price resistance at (1). Follow through to the upside would be concerning for energy prices and consumers (gas at the pump and heating bills at home!).

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This is a critical intersection of time and price for the energy space. Stay tuned!

This article was first written for See It Markets.com. To see the original post CLICK HERE.

 

 

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