Free Trial

NYMEX HO (G19) Bulls React But..........>

COMMODITIES
COMMODITIES: NYMEX HO (G19) Bulls React But Struggling To Hold
*RES 5: $2.3627 - Low Oct 8, now resistance
*RES 4: $2.2300 - Resistance
*RES 3: $2.1284 - 200-dma
*RES 2: $1.8359 - 21-dma
*RES 1: $1.7539 - High Jan 3 2016
*PRICE: $1.7106 @ 15:24 GMT Dec 27
*SUP 1: $1.7000 - Triangle breakout target
*SUP 2: $1.5489 - Low Aug 17, 2017 (continuation chart)
*SUP 3: $1.3563 - Low June 21, 2017 (continuation chart)
Recovery efforts in Feb-19 Heating oil gave way to renewed losses today after
failing to hold above the $1.72 level. The focus remains on the Jan 2016 highs
as well as the triangle breakout target at $1.7000. Bulls need to recover the
21-dma at $1.8359 to to shift the outlook bullish and open the 200-dma at
$2.1284.

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.