Free Trial

NYMEX HO: (X17) Bears Need Close Below....>

OIL TECHS
OIL TECHS: NYMEX HO: (X17) Bears Need Close Below 1.7566
*RES 4: $1.8315 - Bollinger band top
*RES 3: $1.8285 - Daily Bull channel top
*RES 2: $1.8138 - 2017 High Jan 3
*RES 1: $1.7939 - High Sept 15
*PRICE: $1.7895 @ 0430GMT
*SUP 1: $1.7760 - Hourly support Sept 15
*SUP 2: $1.7566 - Low Sept 14
*SUP 3: $1.7319 - Hourly support Sept 13
*SUP 4: $1.7121 - Low Sept 11
*COMMENTARY: The recovery from the week's low saw bulls reconfirm dominance with
focus currently on the $1.8138-1.8315 region where the 2017 highs, bull channel
and Bollinger tops are located. O/B daily studies remain the key concern for
bulls. Layers of support accumulating add to bullish confidence with bears now
needing a close below $1.7566 to confirm an easing of bullish pressure and to
shift focus back to $1.6829-1.7121 where the 21-DMA ($1.6980) is located.

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.