Free Trial

ICE GASOIL (H19): Recovery Intact Above...>

OIL TECHS
OIL TECHS: ICE GASOIL (H19): Recovery Intact Above 21-DMA 
*RES 4: $700.00 - Resistance 
*RES 3: $643.81 - 200-dma (continuation chart) 
*RES 2: $600.00 - High Dec 4 (continuation chart) 
*RES 1: $590.75 - High Feb 4 
*PRICE: $582.50 @ 05:40 GMT Feb 7
*SUP 1: $571.27 - 21-dma (continuation chart) 
*SUP 2: $543.75 - Nov 30 Low (continuation chart) 
*SUP 3: $483.25 - Dec 26 low (continuation chart) 
*SUP 4: $402.50 - Low July 21 2016 (continuation chart) 
Gasoil futures are back on the front foot after holding above their 21-dma
yesterday. Bulls need to recover the Feb 4 high to bring the 100-dma at $622.98
into view, a break reignites upside momentum, targeting the 200-dma at $643.81.
A downside break of the 21-dma is needed to change the outlook. Short-term up
trend line support comes in at $567.42, a break opens the Nov 30 low at $543.75.

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.