Free Trial

ICE GASOIL (J19): Upside Bias *RES 4:.....>

OIL TECHS
OIL TECHS: ICE GASOIL (J19): Upside Bias
*RES 4: $673.75 - High Nov 8, 2018 
*RES 3: $649.49 - 61.8% Retracement (752.25 Oct high-483.25 Dec low) 
*RES 2: $625.98/629.50 - 200-dma/High Mar 1 
*RES 1: $620.25 - High Mar 21 
*PRICE: $614.25 @ 04:00 GMT Apr 5 
*SUP 1: $601.83/595.25 - 50-dma/Low Mar 22 
*SUP 2: $587.75/579.86- High Feb 4/100-dma 
*SUP 3: $567.25 - Low Feb 7 
*SUP 4: $553.25 - Low Jan 28 
Gasoil futures remain in their downward trend channel but upside momentum
appears to be building as a potential bull flag forms. Bulls look for a break
above the March 21 high at $620.25 to open the key 200-dma/March 1 high at
$625.98/629.50. Above here would open the 61.8% retracement at $649.49. Bears
need a break below the 50-dma and Mar 22 low at $601.83/595.25 to suggest a
bearish reversal, opening the Feb 4 high & 100-dma at $587.75/579.86.

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.