Free Trial

ICE GASOIL: (F18) $538.00 Support Key.....>

OIL TECHS
OIL TECHS: ICE GASOIL: (F18) $538.00 Support Key Today
*RES 4: $567.50 - Hourly resistance Dec 1 
*RES 3: $563.50 - Hourly resistance Dec 4 
*RES 2: $560.55 - 21-DMA 
*RES 1: $550.75 - Low Nov 30 now resistance
*PRICE: $546.25 @ 0430GMT
*SUP 1: $542.16 - Daily Bull channel base 
*SUP 2: $541.53 - 55-DMA 
*SUP 3: $538.00 - Low Nov 2 
*SUP 4: $515.21 - 100-DMA
*COMMENTARY: Yet another failure ahead of $572.00 left the contract looking a
little heavy Monday with pressure having returned to the $538.00-542.16 support
region where the daily bull channel base and 55-DMA are situated. Initial
resistance is noted at $550.75 with bulls needing a close above to ease bearish
pressure and above the 21-DMA to shift focus back to $572.00 Nov highs. Below
$538.00 is needed to see bears target the 100-DMA.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.