Free Trial

ICE GASOIL: (M18) Recovers From Sharp.....>

OIL TECHS
OIL TECHS: ICE GASOIL: (M18) Recovers From Sharp Sell-Off
*RES 4: $732.75 - High Nov 11 2014 (Cont)
*RES 3: $717.00 - Low Nov 21 2014 (Cont) now resistance
*RES 2: $686.50 - Low Nov 26 2014 (Cont) now resistance
*RES 1: $671.32 - Daily Bull channel top
*PRICE: $667.75 @ 0430GMT
*SUP 1: $658.75 - Hourly support May 8 
*SUP 2: $654.25 - Hourly resistance May 8 now support 
*SUP 3: $648.25 - Hourly support May 8 
*SUP 4: $639.75 - Low May 4
*COMMENTARY: Yet another dip has found support around the 21-DMA with the
sell-off Tuesday aggressively reversed for fresh 2018 & 3+yr highs. Bulls focus
immediate attention on the daily bull channel top and then need a close above
$686.50 to shift immediate focus to $717.00-732.75. Bears now need a close below
$654.25 to ease bullish pressure and below $636.25 to shift initial focus to
$619.50.

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.