Free Trial

ICE GASOIL (U20): Neutral Trend Position

OIL TECHS
  • RES 4: $400.00 - Psychological round number
  • RES 3: $391.75 - High Aug 5 and the bull trigger
  • RES 2: $382.25 - High Aug 18
  • RES 1: $380.00 - High Aug 25
  • PRICE: $369.00 @ 07:14 BST Aug 31
  • SUP 1: $357.50 - Low Aug 21 and a key near-term support
  • SUP 2: $351.50 - Low Jul 30 and a key reversal trigger
  • SUP 3: $345.25 - Low Jun 29
  • SUP 4: $332.25 - Low Jun 15

Gasoil futures remain in a neutral trend position for now as the sideways range evident since late July continues to dominate. Initial key resistance remains $382.25, Aug 18 high. A break would improve the outlook for bulls and open the key resistance and bull trigger at $391.75, Aug 5 high. Clearance of this hurdle is required to confirm a resumption of the primary bull trend. Key near-term support to watch is at $357.50, Aug 21 low.

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.