--- title: "Pre-market trend | Canadian Natural Resource Company (CNQ) technical death cross appeared on 5/11, energy giant under short-term pressure" type: "News" locale: "en" url: "https://longbridge.com/en/news/285994227.md" description: "Yesterday's close, Canadian Natural Resources Limited (CNQ) MACD daily chart showed a death cross, officially establishing a bearish signal, with short-term selling pressure increasing and accumulating downward pressure. The trading volume for the day was $432 million, with moderate liquidity, but the overall trend is weak. From the market performance, the stock price accelerated its decline after breaking below the recent fluctuation range's lower edge, with bearish sentiment gradually gaining the upper hand. On the news front, due to increased volatility in oil prices, the energy sector faced capital outflows. Recently, influenced by a stronger dollar and fluctuations in international oil prices, market risk aversion has increased, putting pressure on energy stocks. As a comprehensive energy giant, Canadian Natural Resources Limited's performance is closely tied to global energy prices, and the weak performance of crude oil prices in the short term has significantly dragged down its stock price. Additionally, OPEC+'s production increase plan also poses pressure on the future supply-demand balance of the oil market. From a technical perspective, the stock price has opened further downward space after breaking below important moving average support, with the MACD indicator forming a bearish death cross below the zero axis, indicating that the adjustment may deepen further. The intraday support to watch is $23; if it continues to weaken, it may test the support strength at $22. The bearish signal for the stock price is clear, and it is recommended to closely monitor the market's reaction to oil price fluctuations and changes in capital flow. The short-term trend is biased towards bearish, market sentiment is becoming cautious, and the uncertainty of oil prices is increasing. It is expected that the energy sector will find it difficult to recover in the short term, requiring close attention to international energy market dynamics and capital flow conditions. This article only provides technical analysis and market information for reference and does not constitute any investment advice" datetime: "2026-05-12T13:00:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285994227.md) - [en](https://longbridge.com/en/news/285994227.md) - [zh-HK](https://longbridge.com/zh-HK/news/285994227.md) --- # Pre-market trend | Canadian Natural Resource Company (CNQ) technical death cross appeared on 5/11, energy giant under short-term pressure Yesterday's close, Canadian Natural Resources Limited (CNQ) MACD daily chart showed a death cross, confirming a bearish signal, with short-term selling pressure increasing and stage downward pressure accumulating. The trading volume for the day was $432 million, with moderate liquidity, but the overall trend is weak. From the market performance, the stock price accelerated its decline after breaking below the recent fluctuation range's lower edge, with bearish sentiment gradually gaining the upper hand. On the news front, due to increased volatility in oil prices, the energy sector faced capital outflows. Recently, influenced by a stronger dollar and fluctuations in international oil prices, market risk aversion has risen, putting pressure on energy stocks. As a comprehensive energy giant, Canadian Natural Resources Limited's performance is closely tied to global energy prices, and the weak performance of crude oil prices in the short term has significantly dragged down its stock price. Additionally, OPEC+'s production increase plan also poses pressure on the future supply-demand balance of the oil market. From a technical perspective, the stock price has further opened downward space after breaking below important moving average support, with the MACD indicator forming a bearish death cross below the zero axis, indicating that the adjustment may deepen further. The intraday support to watch is $23; if it continues to weaken, it may test the support strength at $22. The bearish signal for the stock price is clear, and it is recommended to closely monitor the market's reaction to oil price fluctuations and changes in capital flow. The short-term trend is biased towards bearish, with market sentiment becoming cautious, and the uncertainty of oil prices increasing. It is expected that the energy sector will find it difficult to recover in the short term, requiring close attention to international energy market dynamics and capital flow conditions. _This article only provides technical analysis and market information for reference and does not constitute any investment advice. 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