Free Trial

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

OIL TECHS
OIL TECHS: ICE GASOIL: (K18) Bulls Need Close Above $613.25
*RES 4: $630.50 - 2018 High Jan 25 (Cont)
*RES 3: $624.00 - High Mar 27
*RES 2: $618.25 - Hourly support Apr 2 now resistance
*RES 1: $613.25 - High Apr 3
*PRICE: $610.00 @ 0430GMT
*SUP 1: $603.50 - Hourly support Apr 4 
*SUP 2: $599.00 - Low Apr 4 
*SUP 3: $595.07 - 21-DMA 
*SUP 4: $590.45 - 55-DMA
*COMMENTARY: The break of $601.25 lacked follow through with the contract
bouncing aggressively from ahead of key DMAs $582.46-595.07. Correcting O/B
daily studies remain a concern for bulls. Bulls continue to look for a close
above $613.25 to gain breathing room and above $618.25 to focus on
$624.00-630.00. Bears now need a close below the 55-DMA to ease bullish pressure
and below the 100-DMA to target $558.75-563.75.

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.