Free Trial

NYMEX HO: (X17) Pressure Remains On.......>

OIL TECHS
OIL TECHS: NYMEX HO: (X17) Pressure Remains On Channel Top
*RES 4: $1.8998 - Daily Bull channel top B
*RES 3: $1.8699 - Bollinger band top
*RES 2: $1.8599 - Daily Bull channel top A
*RES 1: $1.8586 - 2017 High Sept 26
*PRICE: $1.8492 @ 0430GMT
*SUP 1: $1.8357 - Hourly support Sept 26
*SUP 2: $1.8224 - Hourly support Sept 26a
*SUP 3: $1.8107 - Low Sept 26
*SUP 4: $1.7969 - Low Sept 25
*COMMENTARY: Bulls take comfort in the recovery from Tuesday's dip with
immediate pressure on the longer term daily bull channel top. O/B studies and
the Bollinger band top remain key concerns for bulls. In saying that, layers of
support are again building with bears needing a close below $1.8357 to gain
breathing room and below $1.7919 to shift immediate focus to $1.7534-1.7632
where the 21-DMA is situated.

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.