Free Trial

ICE GASOIL: (Z17) Bears Need Close........>

OIL TECHS: ICE GASOIL: (Z17) Bears Need Close Below 21-DMA
*RES 4: $552.25 - Monthly High Nov 4 2015 
*RES 3: $542.00 - 2017 High Sept 26 
*RES 2: $539.13 - Bollinger band top 
*RES 1: $538.75 - High Oct 16
*PRICE: $537.75 @ 0330GMT
*SUP 1: $536.75 - High Oct 17 now support 
*SUP 2: $533.25 - High Oct 25 now support 
*SUP 3: $524.75 - Hourly support Oct 24 
*SUP 4: $523.93 - 21-DMA
*COMMENTARY: Support emerging on dips back towards the 21-DMA provided the
impetus for a break higher that sees immediate bullish focus on $542.00. Bulls
need a close above to shift focus to $552.25-567.72 where the bull channel top
is situated. Bears now need a close below $533.25 to ease immediate bullish
pressure and below the 21-DMA to shift focus back to $506.00-516.50 where the
55-DMA and bull channel base are located.

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.