Free Trial

ICE GASOIL: (V17) Bulls Targeting.........>

OIL TECHS
OIL TECHS: ICE GASOIL: (V17) Bulls Targeting $602.25
*RES 4: $583.00 - High June 30 2015 
*RES 3: $567.00 - High July 3 2015 
*RES 2: $556.00 - 2017 High Sept 26 
*RES 1: $552.25 - Hourly support Sept 25 now resistance
*PRICE: $551.00 @ 0430GMT
*SUP 1: $549.00 - Alternating hourly support/resistance 
*SUP 2: $539.50 - Low Sept 26 
*SUP 3: $536.25 - Low Sept 21 
*SUP 4: $534.50 - Hourly resistance Sept 20 now support
*COMMENTARY: Fresh 2017 & 2+ year highs continue although the lack of topside
follow through is less than ideal given the Bollinger top ($556.74) capping and
daily studies at O/B levels. The $534.50 support remains key. Bears continue to
look for a close below $534.50 to confirm an easing of bullish pressure and
initially pressure $523.25-525.75 where the 21-DMA is situated. While $534.50
supports bulls target $602.25 highs from June 30 2015.

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.