Free Trial

ICE GASOIL: (G18) $601.75 Support Key.....>

OIL TECHS
OIL TECHS: ICE GASOIL: (G18) $601.75 Support Key Today
*RES 4: $630.50 - 2018 High Jan 26
*RES 3: $625.75 - Hourly support Jan 29 now resistance
*RES 2: $618.25 - Hourly resistance Jan 30
*RES 1: $613.68 - 21-DMA
*PRICE: $610.00 @ 0430GMT
*SUP 1: $601.75 - Low Jan 8 
*SUP 3: $592.00 - Low Dec 27 
*SUP 4: $586.33 - 55-DMA 
*SUP 4: $581.00 - Low Dec 26
*COMMENTARY: Continued hesitation ahead of recent 2018 highs and the bull
channel top has resulted in a correction with the contract trading below the
21-DMA. Bears now look for a close below $601.75 to confirm a shift in focus
back to $572.75-592.00 where the bull channel base and 55-DMA are located.
Resistance layers are building and weighing with bulls now needing a close above
$618.25 to gain breathing room and retain focus on $637.86-656.00.

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.