Free Trial

NYMEX HO (G19) Bulls Need Close Above...>

COMMODITIES: NYMEX HO (G19) Bulls Need Close Above 21-DMA
*RES 3: $2.1235 - 200-dma
*RES 2: $1.9468 - 50-dma
*RES 1: $1.7831 - Intraday high
*PRICE: $1.7766 @ 15:07 GMT Jan 4
*SUP 1: $1.6380 - Low Dec 26
*SUP 2: $1.5489 - Low Aug 17, 2017 (continuation chart)
*SUP 3: $1.3563 - Low June 21, 2017 (continuation chart)
Heating Oil futures continue to improve off recent lows with bulls needing a
weekly close above the 21-dma to change the short-term outlook. A topside break
of the Dec 19 high at $1.8118, opens the 50-dma at $1.9468. Bears need to clear
the Dec 26 low at 1.6380 to extend the downtrend, bringing the Aug 17 2017 low
at $1.5489 into view.

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.