Free Trial

ICE GASOIL: (F18) Bears Need Close........>

OIL TECHS
OIL TECHS: ICE GASOIL: (F18) Bears Need Close Below $550.75
*RES 4: $586.17 - 200-WMA 
*RES 3: $572.38 - Bollinger band top 
*RES 2: $572.00 - High Nov 8 
*RES 1: $567.50 - Hourly resistance Dec 1
*PRICE: $564.75 @ 0430GMT
*SUP 1: $561.75 - Alternating hourly support/resistance 
*SUP 2: $557.75 - Hourly resistance Dec 1 now support 
*SUP 3: $552.35 - Daily Bull Channel base 
*SUP 4: $550.75 - Low Nov 30
*COMMENTARY: The close above the 21-DMA ($563.00) was a boost for bulls Friday
but yet another failure ahead of $572.00 leaves the contract looking a little
heavy. The $550.75 support remains key this week with bears needing a close
below to ease bullish pressure and shift immediate focus to $538.00-539.83 where
the longer term bull channel base and 55-DMA are noted. Bulls need a close above
$572.00 to target the 200-WMA and LT bull channel top ($592.91).

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.