Free Trial

O/S Studies Key Concern For Bears *RES....>

OIL TECHS
OIL TECHS: O/S Studies Key Concern For Bears
*RES 4: $16.651 - 200-DMA 
*RES 3: $16.625 - High June 18 
*RES 2: $16.487 - High June 22 
*RES 1: $16.160 - High June 29
*PRICE: $16.030 @ 0400GMT
*SUP 1: $15.880 - 2018 Low June 28
*SUP 2: $15.817 - Bollinger band base
*SUP 3: $15.590 - Monthly Low Dec 13
*SUP 4: $14.860 - 2017 Low July 7
*COMMENTARY: The topside failure at $16.487 set the scene last week and resulted
in fresh 2018 & 7mth lows with immediate bearish focus currently on $15.590 Dec
lows. Bears look for a close below this level to initially target 2017 lows. O/S
studies remain the key concern for bears. Bulls now need a close above $16.160
to gain breathing room and above the 200-DMA to hint at a move back to
$17.316-394.

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.