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ICE GASOIL (G20): Likely To Remains.......>

OIL TECHS
OIL TECHS: ICE GASOIL (G20): Likely To Remains Heavy
*RES 4: $643.00 - High Jan 6 and primary resistance
*RES 3: $640.00 - High Dec 8
*RES 2: $612.00 - Low Dec 31
*RES 1: $603.00 - High Jan 9
*PRICE: $596.00 @ 07:14 GMT Jan 10
*SUP 1: $590.00 - Low Jan 9
*SUP 2: $582.75 - Low Dec 12
*SUP 3: $579.04 - 61.8% retracement of the Oct 3 - Jan 6 rally
*SUP 4: $569.75 - Low Dec 4
GASOIL has been volatile this week with futures Wednesday trading sharply lower
off the day high of $640.00. Significantly, price traded below support at
$612.00, Dec 31 low and this effectively suggests a top has been put in place
for now with the technical outlook suggesting scope for a deeper pullback
near-term. A break of yesterday's low at $590.00 would open $578.04 a
retracement level. Initial resistance is at $603.00, yesterday's high.

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