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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.
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Free AccessNYMEX HO: (Z18) Downtrend Intact *RES.....>
OIL TECHS: NYMEX HO: (Z18) Downtrend Intact
*RES 4: $2.5500 - Channel top
*RES 3: $2.4534 - High Oct 3
*RES 2: $2.3627 - Low Oct 8, now resistance
*RES 1: $2.2808 - 55-dma
*PRICE: $2.1917 @ 05:53 GMT
*SUP 1: $2.1380 - 200-dma
*SUP 2: $2.0871 - Low Aug 15
*SUP 3: $2.0719 - Low Jul 18
*SUP 4: $1.9561 - Low Jul Apr 6
Heating oil futures continue to edge towards the 200-dma at $2.1380, with few
signs yet of any end to the downtrend. A break below the 200-dma would open the
Aug 15 low at $2.0871, below which bearish momentum would strengthen. Bulls need
to recover the 55-dma, currently at $2.2792, in order to re-establish the
uptrend and open the Oct 3 highs.
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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.