Free Trial

NYMEX HO: (X18) Pushing Higher *RES 4:....>

OIL TECHS
OIL TECHS: NYMEX HO: (X18) Pushing Higher
*RES 4: $2.7900 - Resistance 
*RES 3: $2.6000 - Resistance 
*RES 2: $2.5500 - Channel top 
*RES 1: $2.5000 - Resistance 
*PRICE: $2.4091 @ 06:11 GMT 
*SUP 1: $2.3000 - Support 
*SUP 2: $2.1974 - Low Sep 18 
*SUP 3: $2.1813 - High Aug 14 now support 
*SUP 4: $2.1007 - 200-dma 
Nov-18 Nymex Heating Oil futures are holding above resistance-turned-support at
the $2.40 measured move target from the bull flag breakout, opening a move
towards the $2.50 level. Above here lies channel top resistance that comes in at
$2.55. Bears need a close back below $2.30 to shift the outlook neutral and
break below the Sep 7 low at $2.1941 to develop downside momentum.

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.