Free Trial

NYMEX HO (H19) Back Below $2.0 *RES 4:...>

OIL TECHS
OIL TECHS: NYMEX HO (H19) Back Below $2.0 
*RES 4: $2.4496 - High Oct 3 (continuation chart) 
*RES 3: $2.2000 - Pivot 
*RES 2: $2.0934 - 200-dma (continuation chart) 
*RES 1: $2.0430 - July 18 low, now resistance (continuation chart) 
*PRICE: $1.9988 @ 05:27 GMT Feb 20 
*SUP 1: $1.9219 - 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 have edged back below $2.0 as the pullback from Monday's
highs continues. That said, bears need to take out the 21-dma down at $1.9219 to
suggest a downside reversal. Below here would bring the Nov 30 low at $1.7900
into focus. Bulls continue to target the July 18 low at $2.0430 to extend the
rally, with a break above here suggesting a return tp the 200-dma. 

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.