Free Trial

ICE GASOIL: (K18) Bears Need Close........>

OIL TECHS
OIL TECHS: ICE GASOIL: (K18) Bears Need Close Below $624.00
*RES 4: $661.00 - High Nov 28 2014 (Cont)
*RES 3: $637.07 - Bollinger band top
*RES 2: $635.02 - Daily Bull channel top
*RES 1: $631.75 - 2018 High Apr 10
*PRICE: $628.00 @ 0430GMT
*SUP 1: $624.00 - High Mar 27 now support 
*SUP 2: $613.50 - High Apr 9 now support 
*SUP 3: $603.45 - 21-DMA 
*SUP 4: $598.00 - Low Apr 9
*COMMENTARY: The recovery from $598.00 and ahead of 21 & 55-DMAs has resulted in
fresh 2018 & 3+yr highs with bulls now focused on $661.00 last seen in Nov 2014.
Daily studies are well placed for a fresh leg higher with the Bollinger band top
the key concern. Bears now need a close below $624.00 to gain breathing room and
below $613.50 to shift focus back to $585.00-603.45 where key DMAs and the Bull
channel base are found.

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.