Free Trial

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

OIL TECHS
OIL TECHS: ICE GASOIL: (V17) Bears Need Close Below $534.50
*RES 4: $552.51 - Bollinger band top 
*RES 3: $550.05 - Daily Bull channel top 
*RES 2: $543.75 - Monthly High July 10 2015 
*RES 1: $542.75 - 2017 High Sept 22
*PRICE: $40.25 @ 0430GMT
*SUP 1: $536.25 - Low Sept 21 
*SUP 2: $534.50 - Hourly resistance Sept 20 now support 
*SUP 3: $530.75 - Hourly resistance Sept 20a now support 
*SUP 4: $523.25 - Low Sept 19
*COMMENTARY: Fresh 2017 & 2+ year highs continue with bulls focused on the daily
bull channel top. Daily momentum divergence and studies correcting from O/B
remain the key concern for bulls. Layers of support are building with bears now
needing a close below $534.50 to ease immediate bullish pressure and below
$519.75 to shift initial focus back to although the 21-DMA ($516.13) may slow
the move.

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.