Free Trial

NYMEX HO (M19) Key Support Continues To...>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Key Support Continues To Hold
*RES 4: $2.2125 - Low Oct 24, 2018 
*RES 3: $2.1852 - High Nov 8, 2018 
*RES 2: $2.1268 - High Apr 22 
*RES 1: $2.0977 - High May 2 
*PRICE: $2.0452 @ 05:56 GMT May 10 
*SUP 1: $2.0301/0291/0209 - 55-dma/Uptrend support from Jan lows/Low May 7 
*SUP 2: $1.9417/9441 - Low Mar 8/100-dma 
*SUP 3: $1.9281 - Feb 4 high 
*SUP 4: $1.8236 - Low Jan 28 
Heating oil futures continue to hold above key support marking the
55-dma/uptrend support from Jan lows/May 7 low at $2.0301/0291/0209. Above here
puts the focus on the May 2 high at $2.0977 initially, above which would target
the April 22 ytd high at $2.1268. A bearish break would suggest a downside
reversal towards the March 8 low/100-dma at $1.9417/49. 

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.