Free Trial

ICE GASOIL: (V18) Struggling To Recover...>

OIL TECHS
OIL TECHS: ICE GASOIL: (V18) Struggling To Recover $700
*RES 4: $800.00 - Resistance 
*RES 3: $785.00 - High November 24 2014 
*RES 2: $750.00 - Measured move from the bull flag breakout 
*RES 1: $710.75 - High Sep 4 
*PRICE: $692.75 @ 06:21 GMT 
*SUP 1: $678.38 - 21-DMA 
*SUP 2: $653.00 - Intraday low Aug 22 
*SUP 3: $636.25 - Low Aug 15 
*SUP 4: $627.00 - Low July 18 
Bulls were unable to reclaim the $700 yesterday which keeps the short-term
outlook neutral. A break above $700 would shift the focus to the Sep 4 high at
$710.75, above which opens up the $750 area marking the measured move from the
bull flag breakout. Bears need to close below the 21-dma at $678.38 to keep
hopes alive of a reversal pattern.

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.