Free Trial

ICE GASOIL (K19): Close Above $650........>

OIL TECHS
OIL TECHS: ICE GASOIL (K19): Close Above $650 Remains Elusive 
*RES 4: $697.75 - High Oct 26, 2018 
*RES 3: $678.00 - Low Oct 25, 2018 
*RES 2: $672.75 - High Nov 8, 2018 
*RES 1: $651.00/50 - High Apr 22/Low Nov 6, 2018 
*PRICE: $642.50 @ 05:54 GMT Apr 25 
*SUP 1: $626.50/624.13 - Low Apr 15/200-dma 
*SUP 2: $610.25/613.67 - Low April 4/55-dma 
*SUP 3: $596.25/593.25 - Low Mar 28/Low Mar 8 
*SUP 4: $587.25/586.73 - High Feb 4/100-dma 
Gasoil futures continue to struggle to mount a close above the $650 level giving
bears an opportunity to target the April 15 low/200-dma at $626.50/624.13 for a
potential downside reversal. Below here would open the April 4 low/55-dma at
$610.25/613.67 ahead of the March 28/8 lows at $596.25/593.25. Bulls' focus
remains on the $650 area with a close above Monday's high and the Nov 6 low at
$651.00/50 needed to open the Nov 8 high at $672.75. 

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.