Free Trial

ICE GASOIL (X19): Holds above $563.75.....>

OIL TECHS
OIL TECHS: ICE GASOIL (X19): Holds above $563.75
*RES 4: $618.75 - High Sep 19
*RES 3: $610.63 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 2: $602.50 - High Oct 24 and bull trigger
*RES 1: $596.50 - High Nov 4 and Nov 6
*PRICE: $577.25 @ 07:37 GMT Nov 11
*SUP 1: $566.50 - Low Nov 8
*SUP 2: $563.75 - Low Oct 31 and key support
*SUP 3: $554.50 - Low Oct 3 and primary support
*SUP 4: $546.25 - Low Sep 3
GASOIL remains above $563.75, Oct 31 low. A break of this important support
would pave the way for a test of primary support at $554.50, Oct 3 low. The
recovery however on Nov 1 and Nov 4 is viewed as a positive development despite
the recent recent pullback. However to confirm a bullish scenario, prices do
need to clear resistance at $602.50, Oct 24 high where a break would open
$610.63 as an initial objective.

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.