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ICE GASOIL (G19): Jan 11 High The Focus...>

OIL TECHS
OIL TECHS: ICE GASOIL (G19): Jan 11 High The Focus
*RES 4: $700.00 - Resistance
*RES 3: $647.81 - 200-dma (continuation chart)
*RES 2: $600.00 - High Dec 4 (continuation chart)
*RES 1: $579.50 - High Jan 11
*PRICE: $571.00 @ 05:21 GMT Jan 23
*SUP 1: $554.75 - Low Jan 14
*SUP 2: $543.18 - 21-dma (continuation chart)
*SUP 3: $483.25 - Dec 26 low (continuation chart)
*SUP 4: $402.50 - Low July 21 2016 (continuation chart)
Gasoil futures remain shy of the Jan 11 high at $579.50, which acts as
resistance and marks a potential inverse head and shoulders neckline. Above here
would extend the rally towards the Dec 7 high at $588.25 ahead of the 200-dma
which comes in at $640.73. On the downside the Jan 14 low acts as initial
support ahead of the 21-dma, and bears need to break below here to target the
Dec 26 lows at $483.25.

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