Free Trial

NYMEX HO: (Z18) Uptrend Intact Above......>

OIL TECHS
OIL TECHS: NYMEX HO: (Z18) Uptrend Intact Above $2.20 
*RES 4: $2.5500 - Channel top 
*RES 3: $2.4534 - High Oct 3 
*RES 2: $2.3627 - Low Oct 8, now resistance 
*RES 1: $2.3292 - 21-dma 
*PRICE: $2.2685 @ 05:50 GMT 
*SUP 1: $2.2031 - Low Sep 18, uptrend support from Feb lows
*SUP 2: $2.1350 - 200-dma 
*SUP 3: $2.0871 - Low Aug 15 
*SUP 4: $2.0719 - Low Jul 18 
Dec-18 Heating oil futures edged lower yesterday but remained clear of the key
$2.20 level, where the Sep 18 low meets up trendline support from the Feb lows.
Bears need to break below here to mount a reversal and target the 200-dma at
$2.1350. On the upside, a break above the 21-dma at $2.3292 would renwe bullish
momentum and open the Oct 3 highs. 

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.