Free Trial
US TSYS

Rate Hike Path Without Recession

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
OIL TECHS
OIL TECHS: NYMEX HO (M20): Bull Trend Resumes
*RES 4: $1.0000 - psychological round number
*RES 3: $0.9883 - High Apr 20
*RES 2: $0.9507 - Low Apr 1
*RES 1: $0.9496 - High Apr 21
*PRICE: $0.9209 @ 07:15 GMT May 15
*SUP 1: $0.8022 - Low May 6 and key near-term support
*SUP 2: $0.7769 - Low May 4
*SUP 3: $0.7033 - Low Apr 29
*SUP 4: $0.6724 - Low Apr 28 and key support
HO futures maintain a bullish theme. The recovery off $0.6724, Apr 28 low
resulted in a break of resistance at $0.8632, Apr 23 high. Furthermore, futures
have managed to probe the 20-day EMA reinforcing the current bullish cycle.
Attention is on $0.9496, Apr 21 high and potentially $1.000 further out. Firm
support is seen at $0.8022, the May 6 low. The move through the bull trigger at
$0.9199 this morning confirms a resumption of the uptrend.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.