Free Trial

NYMEX HO (H19) 200-DMA Coming Back Into...>

OIL TECHS
OIL TECHS: NYMEX HO (H19) 200-DMA Coming Back Into Play
*RES 4: $2.4496 - High Oct 3 (continuation chart) 
*RES 3: $2.2000 - Pivot 
*RES 2: $2.0920 - 200-dma (continuation chart) 
*RES 1: $2.0430 - July 18 low, now resistance (continuation chart) 
*PRICE: $2.0299 @ 04:54 GMT Feb 21 
*SUP 1: $1.9299 - 21-dma (continuation chart) 
*SUP 2: $1.7900 - Low Nov 30 (continuation chart) 
*SUP 3: $1.6424 - Low Jan 2 
*SUP 4: $1.5488 - Low Aug 17, 2017 (continuation chart) 
Heating oil futures extended their gains yesterday bringing the July 18 low at
$2.0430 into play ahead of the key 200-dma which crosses at $2.0920. A close
above here would suggest a run at the $2.20 level. To change the outlook bears
need to take out the 21-dma down at $1.9299. Below here would bring the Nov 30
low at $1.7900 into focus.

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.