Free Trial

ICE GASOIL: (Q18) 55-DMA Capping *RES.....>

OIL TECHS
OIL TECHS: ICE GASOIL: (Q18) 55-DMA Capping
*RES 4: $672.20 - High June 4
*RES 3: $662.87 - 21-DMA
*RES 2: $658.50 - Low June 13 now resistance
*RES 1: $654.99 - 55-DMA
*PRICE: $644.50 @ 0430GMT
*SUP 1: $640.50 - Low June 20 
*SUP 2: $633.50 - Low June 18 
*SUP 3: $621.43 - 100-DMA 
*SUP 4: $615.75 - Low Apr 17
*COMMENTARY: Pressure has returned to the $658.50-672.20 region where 21 &
55-DMAs are situated. Bulls now need a close above $672.00 to confirm breaks of
key DMAs, ending bearish hopes and shifting immediate focus to $688.25-700.00.
The $633.50 support is now key. Bears need a close below this level to shift
immediate focus to $615.75-621.43 where the 100-DMA is noted. The Bollinger base
($637.72) is the key concern for bears.

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.