GAS/OIL price trend is still bullish

• Market data after GAS/OIL, Daily technical analysis of October 06, 2020 continue to indicate bullish movement.

1. GAS/OIL, Daily surged 5.6% since 06 October 2020.
2. There are several reasons for the world oil prices drop:
   1) The restoration of oil production in the Gulf of Mexico, which was suspended due to Hurricane Delta.
   2) The oil workers' strike in Norway has ended.
   3) Libya is going to continue to increase its oil production.

All these factors may contribute to the return of an additional 2 million barrels per day to the world market. In turn, natural gas continues to be in demand as winter approaches, since it is used for heating.

• The Parabolic indicator gives a bullish signal.
• Bollinger Channel gives a bullish signal.
• The MACD indicator gives a neutral signal.
• The RSI oscillator gives a neutral signal.
• Fractals give a bullish signal.
• The MA (200) indicator gives a neutral signal.