Free Trial

NYMEX HO: (X18) Holding Above $2.40 ......>

OIL TECHS
OIL TECHS: NYMEX HO: (X18) Holding Above $2.40 
*RES 4: $2.7900 - Resistance 
*RES 3: $2.6000 - Resistance 
*RES 2: $2.5500 - Channel top 
*RES 1: $2.5000 - Resistance 
*PRICE: $2.4115 @ 05:30 GMT 
*SUP 1: $2.3000 - Support 
*SUP 2: $2.1974 - Low Sep 18 
*SUP 3: $2.1813 - High Aug 14 now support 
*SUP 4: $2.1054 - 200-dma 
Nov-18 Nymex Heating Oil futures managed to reclaim the $2.40 level despite a
brief drop below it, which keeps the overall bullish tone intact. Bulls continue
to focus on the $2.50 level and the channel top at $2.55. Bears need a close
back below $2.40 to gain some breathing room and a break back below $2.30 to
suggest a bearish reversal is in play.

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.