Free Trial

ICE GASOIL: (M18) $687.50 Resistance......>

OIL TECHS
OIL TECHS: ICE GASOIL: (M18) $687.50 Resistance Key
*RES 4: $705.00 - 2018 High May 17
*RES 3: $703.75 - High May 22
*RES 2: $687.75 - Low May 21 now resistance
*RES 1: $677.75 - High May 29
*PRICE: $670.50 @ 0430GMT
*SUP 1: $666.00 - Low May 28 
*SUP 2: $640.60 - 55-DMA 
*SUP 3: $636.25 - Low May 2 
*SUP 4: $619.50 - Low Apr 17
*COMMENTARY: The double daily top and correcting O/B studies setup nicely for a
break lower Friday with focus now on $636.25-640.60 where the 55-DMA is located.
Layers of resistance have followed the contract lower and add weight to the
bearish case. Bulls now look for a close above $687.50 to ease bearish pressure
and return focus to $703.75-705.00 where 2018 highs are 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.