Free Trial

ICE HO: (J18) Below $1.8905 To Ease.......>

OIL TECHS
OIL TECHS: ICE HO: (J18) Below $1.8905 To Ease Bullish Pressure
*RES 4: $2.0247 - Low Jan 19 now resistance
*RES 3: $1.9849 - Low Dec 27 now resistance
*RES 2: $1.9785 - 21-DMA
*RES 1: $1.9755 - 55-DMA
*PRICE: $1.9269 @ 0430GMT
*SUP 1: $1.9125 - 100-DMA
*SUP 2: $1.8905 - Low Feb 16
*SUP 3: $1.8553 - Low Feb 15
*SUP 4: $1.8419 - High Feb 13 now support
*COMMENTARY: A bullish key day reversal following 2018 & 4mth lows now sees the
contract gaining traction above the 100-DMA. Bulls now look for a close above
$1.9849 to confirm breaks of 21 & 55-DMAs, hinting at a move back to
$2.0811-2.1095 and above $2.0428 to confirm. The 100-DMA is initial support but
bears need a close below $1.8905 to ease bullish pressure and return initial
focus to $1.8111-1.8553.

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.