Free Trial

NYMEX HO: (M18) Above 2018 High Targets...>

OIL TECHS
OIL TECHS: NYMEX HO: (M18) Above 2018 High Targets Channel top
*RES 4: $2.2094 - Daily Bull channel top
*RES 3: $2.1362 - 2018 High Jan 26 (cont)
*RES 2: $2.1128 - Bollinger band top
*RES 1: $2.1105 - High Apr 11
*PRICE: $2.0978 @ 0430GMT
*SUP 1: $2.0592 - Hourly support Apr 18
*SUP 2: $2.0414 - Low Apr 17
*SUP 3: $2.0273 - 21-DMA
*SUP 4: $1.9975 - High Apr 9 now support
*COMMENTARY: The lack of follow through below $2.0425 has been followed up with
a rally Wednesday that sees bulls gain breathing room and immediate focus back
on $2.1105-1362. Bulls need a close above 2018 highs to confirm focus on the
daily bull channel top. O/B studies and the Bollinger top are key concerns for
bulls. Bears now need a close below $2.0592 to gain breathing room and below the
21-DMA ($2.0273) to initially pressure $1.9975.

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.