Free Trial

ICE GASOIL: (G18) Bears Need Close........>

OIL TECHS
OIL TECHS: ICE GASOIL: (G18) Bears Need Close Below $592.00
*RES 4: $628.25 - 2015 High May 6 
*RES 3: $620.50 - High May 14 2015 
*RES 2: $611.00 - Daily Bull channel top 
*RES 1: $608.25 - High Jan 2
*PRICE: $600.00 @ 0430GMT
*SUP 1: $592.00 - Low Dec 27 
*SUP 2: $587.50 - Hourly resistance Dec 26 now support 
*SUP 3: $581.00 - Low Dec 26 
*SUP 4: $572.75 - Low Dec 20
*COMMENTARY: Recent 2017 & 2+ year highs see immediate focus on the daily bull
channel top and overall focus on $620.50-628.25 where 2015 highs are situated
Layers of support have followed the contract higher with bears needing a close
below $592.00 to ease bullish pressure and below $581.00 to hint at a move back
to $555.00-560.25 where the 55-DMA and bull channel base are situated.

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.