USDCAD TECHS

Bouncing Off Trend Low

AUDUSD TECHS

Opens Gap With Recent Highs

EURJPY TECHS

Breaks Through Channel Base

USDJPY TECHS

Attention Remains On The Bear Channel Top

EURGBP TECHS

Approaching Key Support

GBPUSD TECHS

Pulls Back From Key Resistance

ICE GASOIL (Q20) Reversal Threat

OIL TECHS
  • RES 4: $401.00 - High Mar 11
  • RES 3: $400.00 - Psychological round number
  • RES 2: $388.50 - High Jul 21 and the bull trigger
  • RES 1: $378.75 - High Jul 24 and 27
  • PRICE: $363.75 @ 08:06 BST Jul 31
  • SUP 1: $349.00 - Low Jul 30
  • SUP 2: $340.25 - Low Jun 29 and a key reversal trigger
  • SUP 3: $326.00 - Low Jun 15
  • SUP 4: $319.75 - Low Jun 12

Gasoil futures traded sharply lower yesterday clearing support at $358.75, low Jul 10 and a key level. Although futures bounced off the day low, yesterday's price action highlights a bearish threat. A move below $349.00, yesterday's low would risk a deeper pullback and open $340.25, low Jun 29 and also an important reversal trigger. On the upside, key resistance and the bull trigger is $388.50.

MNI London Bureau | +44 203-586-3805 | taso.anastasiou.ext@marketnews.com