Enbridge shares technical analysis: Buyers defend C$67.62 support

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Enbridge slips 0.15% to C$68.08 today

Highlights

Enbridge will acquire Tallgrass Energy's crude oil business from Blackstone for $2.55 billion in cash, expanding its infrastructure portfolio.
The deal brings a 51% stake in the Powder River Gateway pipeline, added storage capacity, and a crude oil marketing unit, supporting higher distributable cash flow per share in year one.
Shares of Enbridge trade with short- and medium-term upward momentum in a C$67.37 to C$68.79 range, but the long-term trend remains bearish with mixed indicator signals.

North American crude expansion as Tallgrass deal boosts cash flows

Enbridge has agreed to acquire the crude oil business of Tallgrass Energy, owned by Blackstone, for $2.55 billion in cash, according to Kalkine. This transaction expands Enbridge’s infrastructure portfolio with a 51% stake in the Powder River Gateway pipeline, extensive storage capacity, and a crude oil marketing unit, positioning the company for higher distributable cash flow per share in its first year of ownership. The deal reflects a focus on strengthening Enbridge’s North American crude logistics network and increasing operational scale in the midstream sector.

Mixed momentum signals as short-term gains face long-term resistance

On the hourly chart, ENB is currently trading above its MA-20 level at C$67.79 and MA-50 at C$67.61, but remains below the daily MA-200 at C$72.25. Immediate support is noted at the Ichimoku Kijun level around C$67.62. Momentum signals are mixed: MACD displays a Buy reading, ADX is Neutral, RSI stands at 57.07 (Buy), CCI is in Buy territory, Stochastic RSI reads Neutral, Bull/Bear Power signals intraday buying strength, and the Awesome Oscillator remains Neutral. This blend of indicators suggests modest bullish momentum with lingering caution from longer-term resistance.

Rangebound forecast holds as bullish breakout faces resistance risk

Over the next several days, ENB is forecast to trade within a volatility band of C$67.37 to C$68.79. There is a 53% probability of an upward move, with a slightly lower chance of a downside break. The baseline scenario expects the price to be rangebound; a move above resistance would trigger a bullish extension, while a breach below support would signal the start of a new bearish phase.

Viktoras Karapetjanc, Expert at Traders Union, sees Enbridge’s recent Tallgrass Energy acquisition as a fundamental step that reinforces its midstream leadership. He believes expanding pipeline, storage, and marketing capabilities will help support stronger cash flow generation. Current momentum signals are constructive but restrained by longer-term resistance, keeping price action rangebound near support and resistance levels. In his words: "Enbridge is setting up for long-term value with this acquisition — I’m optimistic as operational integration supports future growth."

Earlier, analysts noted that Enbridge's acquisition of Tallgrass Energy added important catalysts to its growth outlook while technical signals pointed to potential near-term consolidation. The current analysis affirms this perspective, highlighting muted volatility and reinforcing the case for a rangebound trade in the days ahead, with investors advised to monitor for any decisive move beyond the established band to gauge future direction.

Source of Data: ENB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.