Free Trial

ICE HO: (J18) Correcting O/B Studies......>

OIL TECHS: ICE HO: (J18) Correcting O/B Studies Weighing
*RES 4: $1.9956 - High Feb 26
*RES 3: $1.9601 - Hourly support Feb 28 now resistance
*RES 2: $1.9432 - Hourly resistance Feb 28
*RES 1: $1.9280 - 100-DMA
*PRICE: $1.9042 @ 0430GMT
*SUP 1: $1.8905 - Low Feb 16
*SUP 2: $1.8553 - Low Feb 15
*SUP 3: $1.8419 - High Feb 13 now support
*SUP 4: $1.8111 - Monthly Low Feb 14
*COMMENTARY: The failure to gain traction above the 55-DMA ($1.9827) and
correcting O/B studies weighing have impacted with bears now looking for a close
below $1.8905 to confirm focus on retests of Feb lows. Layers of resistance have
been left in the wake with bulls now needing a close above $1.9432 to gain
breathing room. A close above $2.0346 is needed to confirm a return in initial
focus to $2.0880-2.1098 where 2018 highs are situated.

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.