Free Trial

ICE GASOIL: (H18) Bulls Need Close........>

OIL TECHS
OIL TECHS: ICE GASOIL: (H18) Bulls Need Close Above $614.75
*RES 4: $631.25 - 2018 High Jan 26
*RES 3: $625.75 - Hourly resistance Jan 29
*RES 2: $614.75 - Hourly resistance Feb 2
*RES 1: $608.25 - Low Feb 2 now resistance
*PRICE: $605.75 @ 0430GMT
*SUP 1: $601.65 - Bollinger band base 
*SUP 2: $596.00 - Low Jan 3 
*SUP 3: $589.75 - Low Dec 27 
*SUP 4: $588.72 - 55-DMA
*COMMENTARY: The contract is again looking offered having put in a lower daily
swing high last week. Immediate focus is now on $588.72-596.00 where the 55-DMA
is located. Bears need a close below the 55-DMA to initially pressure
$561.85-574.89 where the 100-DMA and bull channel base are located. Layers of
resistance are weighing with bulls now need a close above $614.75 to shift focus
back to $625.75-631.25.

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.