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ICE GASOIL (F20): Bullish Outlook.........>

OIL TECHS
OIL TECHS: ICE GASOIL (F20): Bullish Outlook Maintained
*RES 4: $666.31 - 2.236 projection of Oct 3 - Oct 28 rally from Nov 20 low
*RES 3: $654.75 - 2.00 projection of Oct 3 - Oct 28 rally from Nov 20 low
*RES 2: $649.50 - Sep 16 high and major resistance
*RES 1: $643.00 - High Jan 6
*PRICE: $624.50 @ 07:12 GMT Jan 8
*SUP 1: $611.75 - Low Jan 7 and key intraday support
*SUP 2: $609.00 - Low Dec 23
*SUP 3: $596.25 - High Dec 6
*SUP 4: $577.75 - Low Dec 11
GASOIL continues to trade below Monday's $643.00 high. The outlook remains
bullish. Last week, futures traded above $631.75, Dec 30 high to confirm a
resumption of the uptrend in place since early Oct. Price action in December
also reinforced the bullish theme. The early December break of $595.50, the Nov
27 high confirmed a range breakout. The focus is on $649.50 next, Sep 16 high.
Support is at $611.75.

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