Free Trial

ICE GASOIL: (Z17) $557.50 Support.........>

OIL TECHS
OIL TECHS: ICE GASOIL: (Z17) $557.50 Support Remains Key
*RES 4: $597.50 - High June 17 2015 
*RES 3: $585.50 - High June 30 2015 
*RES 2: $576.76 - Daily Bull channel top 
*RES 1: $570.75 - 2017 High Nov 6
*PRICE: $566.75 @ 0430GMT
*SUP 1: $557.50 - Hourly support Nov 6a 
*SUP 2: $551.25 - Hourly support Nov 3 
*SUP 3: $549.25 - Hourly resistance Nov 3 now support 
*SUP 4: $541.00 - Low Nov 3
*COMMENTARY: Topside hesitation ahead of the daily bull channel to is less than
ideal for bulls given daily studies looking to correct from O/B. Bulls currently
focus on $576.76-585.50 where the bull channel top is situated. The $557.50
support remains key. Bears need a close below $557.50 to ease bullish pressure
and below $549.25 to shift focus to $532.75-541.00.

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.