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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.
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ICE GASOIL (V20): Still Trading Below Key Resistance
- RES 4: $378.25 - High Aug 31
- RES 3: $374.00 - High Sep 2
- RES 2: $349.17 - 50-day EMA
- RES 1: $344.75 - High Sep 18 and a reversal trigger
- PRICE: $331.00 @ 07:04 BST Sep 29
- SUP 1: $314.75 - Low Sep 8 and the bear trigger
- SUP 2: $313.50 - Low May 29
- SUP 3: $300.00 - Round number resistance
- SUP 4: $298.91 - 76.4% retracement of the Apr - Aug rally
Gasoil futures are firmer but despite this, the outlook remains bearish. The sell-off Sep 21 confirmed a top at $344.75, Sep 18 high and price action recently stalled just above the 20-day EMA. Also, a bearish price pattern on Sep 18 , a doji reinforces a bearish climate. Continued weakness would open $314.75, Sep 8 low where a break would confirm a resumption of the downtrend. $344.75 is key resistance, a break would alter the picture.
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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.