DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NYMEX HO (U20): RECOUPING LOST GROUND

OIL TECHS
  • RES 4: $1.4000 - Round number resistance
  • RES 3: $1.3459 - High Mar 11
  • RES 2: $1.3130 - 38.2% Jan - Apr Decline
  • RES 1: $1.3054 - High Aug 5
  • PRICE: $1.2520 @ 08:03 BST Aug 12
  • SUP 1: $1.1724 - Low Jul 30
  • SUP 2: $1.1541 - Low Jun 29 and a key reversal trigger
  • SUP 3: $1.1027 - Low Jun 12
  • SUP 4: $1.0295 - Low May 29

Following the bearish Friday close, Heating Oil futures recovered and recouped the lost ground posted at the tail-end of last week. To reignite any uptrend, 1.3130 and 1.3459 become the next upside targets. A move below 1.1724 would risk a deeper pullback and open 1.1541, low Jun 29 and also an important reversal trigger.

Energy BulletsCommodities
Energy BulletsCommodities

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.