Free Trial

ICE GASOIL: (K18) Modestly O/B Studies....>

OIL TECHS
OIL TECHS: ICE GASOIL: (K18) Modestly O/B Studies Correcting
*RES 4: $648.75 - 2018 High Apr 11
*RES 3: $644.40 - Bollinger band top
*RES 2: $640.00 - Hourly resistance Apr 16
*RES 1: $635.00 - High Apr 17
*PRICE: $630.00 @ 0430GMT
*SUP 1: $623.00 - Low Apr 17 
*SUP 2: $617.88 - 21-DMA 
*SUP 3: $613.50 - High Apr 9 now support 
*SUP 4: $598.00 - Low Apr 9
*COMMENTARY: Correcting modestly O/B daily studies are weighing with bears now
looking for a close below $613.50 to confirm a break of the 21-DMA and shift
focus back to $589.02-598.00 where 55 ($592.97) & 100 ($589.02) DMAs are found.
Initial resistance is noted at $635.00 with bulls now needing a close above this
level gain breathing room. Bulls then look for a close above $648.75 to
reconfirm control and target $661.00-665.33 where the bull channel top is noted.

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.