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ICE GASOIL (G20): Holding Onto Gains......>

OIL TECHS
OIL TECHS: ICE GASOIL (G20): Holding Onto Gains
*RES 4: $566.00 - High Jan 22
*RES 3: $552.75 - High Jan 23
*RES 2: $531.75 - High Jan 29 and key near-term resistance
*RES 1: $519.50 - High Jan 30
*PRICE: $510.25 @ 06:57 GMT Feb 7
*SUP 1: $480.00 - Low Feb 3 and key support
*SUP 2: $475.54 - 161.8% retracement projection of the Oct 3 - Jan 6 high
*SUP 3: $460.43 - 176.4% retracement projection of the Oct 3 - Jan 6 high
*SUP 4: $436.00 - 200.0% retracement projection of the Oct 3 - Jan 6 high
GASOIL bounced this week off Tuesday's low as a possible correction begins to
develop. Whether the move higher develops into a stronger correction though
remains to be seen. Attention is on the next resistance at $519.50, the Jan 30
high where a break would signal scope for an extension towards resistance at
$531.75, Jan 29 high. On the downside, key support has been defined at this
week's $480.00 low. A break would resume the recent sell-off.

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