Free Trial

NYMEX HO (H19) Looking For Direction .....>

OIL TECHS
OIL TECHS: NYMEX HO (H19) Looking For Direction 
*RES 4: $2.1008 - 200-dma (continuation chart) 
*RES 3: $2.0430 - Prior range lows, now resistance (continuation chart) 
*RES 2: $1.9534 - High Dec 7 (continuation chart) 
*RES 1: $1.9386 - High Feb 4 
*PRICE: $1.9011 @ 05:50 GMT Feb 11 
*SUP 1: $1.8409 - 50-dma (continuation chart) 
*SUP 2: $1.7900 - Low Nov 30 (continuation chart) 
*SUP 3: $1.6424 - Low Jan 02 
*SUP 4: $1.5488 - Low Aug 17, 2017 (continuation chart) 
Heating oil futures remain locked in their sideways trading range with the Feb 4
high at $1.9386 capping topside gains and the 50-dma acting as support at
$1.8409. Above $1.9386 would extend the recovery and trigger an inverse head and
shoulders pattern, targeting the 200-dma. Below the 50-dma would brings 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.