Free Trial

ICE GASOIL: (X17) $528.25-537.25..........>

OIL TECHS: ICE GASOIL: (X17) $528.25-537.25 Resistance Region Key
*RES 4: $550.50 - 2017 High Sept 26 
*RES 3: $537.25 - Low Sept 29 now resistance 
*RES 2: $533.50 - Hourly support Oct 2 now resistance 
*RES 1: $528.25 - High Oct 4
*PRICE: $527.00 @ 0330GMT
*SUP 1: $525.25 - Hourly support Oct 4 
*SUP 2: $514.25 - Low Oct 4 
*SUP 3: $506.00- Low Sept 12 
*SUP 4: $503.75 - Low Sept 11
*COMMENTARY: Fresh 2017 & 2+ year highs again lacked follow through last week
providing the impetus for a sell-off Monday that closed below the 21-DMA. The
bounce Wednesday is less than ideal for bears with bulls needing a close above
$528.25 to ease bearish pressure. Bulls then need a close above $537.25 to
return focus to $550.50-558.55 where 2017 highs and the bull channel top are
noted. Bears focus on $492.00-503.75 while $537.25 caps.

To read the full story



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.