Free Trial

ICE GASOIL: (V17) Bears Need Close........>

OIL TECHS
OIL TECHS: ICE GASOIL: (V17) Bears Need Close Below $510.25
*RES 4: $542.34 - Daily Bull channel top 
*RES 3: $539.42 - Bollinger band top 
*RES 2: $534.25 - 2017 High Sept 8 
*RES 1: $529.75 - Hourly support Sept 8 now resistance
*PRICE: $524.50 @ 0430GMT
*SUP 1: $519.75 - Hourly resistance Sept 13 now support 
*SUP 2: $513.00 - Low Sept 13 
*SUP 3: $510.25 - Hourly support Sept 5, Low Sept 12 
*SUP 4: $503.00 - Hourly support Sept 5a
*COMMENTARY: The correction lower from last week's 2017 & 2+ year lows is in
trouble with the close above $519.75 easing bearish pressure and seeing bulls
focused on $534.25-542.34 where Bollinger and bull channel tops are situated.
Daily studies correcting from O/B levels remain the key concern for bulls. Bears
now look for a close below $519.75 to ease bullish pressure and below $510.25 to
confirm focus on $495.00-503.00 where key supports and the 21-DMA are situated.

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.