Free Trial

NYMEX HO (U19): June Lows Have Held.......>

OIL TECHS
OIL TECHS: NYMEX HO (U19): June Lows Have Held
*RES 4: $1.9647 - High Jul 31 (continuation)
*RES 3: $1.9471 - High Jul 24 (continuation)
*RES 2: $1.9129 - High Aug 2
*RES 1: $1.8526/57 - Low Jul 18 (continuation)/ High Aug 6
*PRICE: $1.7790 @ 08:00 BST Aug 9
*SUP 1: $1.7402 - Low Jun 5 (continuation)
*SUP 2: $1.6801 - Low Jan 3 (continuation)
*SUP 3: $1.6424 - Low Jan 2 (continuation)
HO failed to break its June lows on Wednesday and there may be some short-term
pausing of the move lower. However, we remain below the previous trendline
support leaving medium-term technicals focused on the downside. Medium term
focus is now set to return to the 1.7402 June low.

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.