Free Trial

ICE GASOIL (M19): Stuck In Range *RES.....>

OIL TECHS
OIL TECHS: ICE GASOIL (M19): Stuck In Range
*RES 4: $697.75 - High Oct 25, 2018 
*RES 3: $672.75 - High Nov 8, 2018 
*RES 2: $658.44 - Low Sep 6, 2018 
*RES 1: $652.00/25 - High May 13/Apr 23 
*PRICE: $635.75 @ 05:24 GMT May 15 
*SUP 1: $623.71/623.50 - 200-dma/Low May 7 
*SUP 2: $620.75 - Low April 26 
*SUP 3: $598.50 - Low March 28 
*SUP 4: $592.00/589.60 - Low Mar 8 / 38.2% retracement of Dec-April move 
Gasoil futures sows few signs of breaking out of its range which is capped on
the upside by Monday's high and on the downside by the 200-dma. A downside break
of the 200-dma and the May 7 low at $623.71/50 is needed to suggest a downside
reversal towards the April 26 low. A recovery of yesterday's high at $625.00 and
the April 23 high just above it is needed to reignite the broader rally.

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.