Free Trial

ICE GASOIL: (M18) Bears Need Close........>

OIL TECHS
OIL TECHS: ICE GASOIL: (M18) Bears Need Close Below $692.00 Today
*RES 4: $755.75 - High Nov 10 2014 (Cont)
*RES 3: $732.75 - High Nov 11 2014 (Cont)
*RES 2: $717.00 - Low Nov 21 2014 (Cont) now resistance
*RES 1: $705.00 - 2018 High May 17
*PRICE: $695.75 @ 0430GMT
*SUP 1: $687.75 - Low May 21 
*SUP 2: $686.50 - Hourly resistance May 16 now support 
*SUP 3: $679.50 - High May 11 now support 
*SUP 4: $672.25 - Low May 11
*COMMENTARY: Recent 2018 & 3+yr highs see bulls focused on the $732.75-755.75
region last seen in Nov 2014. O/B studies remain the key concern for bulls.
Bears continue to look for a close below $679.50 to shift initial focus back to
the 21-DMA ($666.30) and hint at a move back to $636.25-654.25.

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.