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The 144.25 Bull Trigger Remains Exposed


EGB Supply For W/C June 20, 2022 (2/2)


EGB Supply For W/C June 20, 2022 (1/2)


Trend Outlook Remains Bullish

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OIL TECHS: ICE GASOIL (H20): Key Support Holds
*RES 4: $566.00 - High Jan 22
*RES 3: $541.99 - 38.2% retracement of the Jan 6 - Feb 3 decline
*RES 2: $532.75 - High Jan 29 and key near-term resistance
*RES 1: $523.75 - High Feb 20 and key resistance
*PRICE: $496.50 @ 07:32 GMT Feb 25
*SUP 1: $481.50 - Low Feb 24
*SUP 2: $481.25 - Low Feb 3 and key support
*SUP 3: $472.38 - 161.8% retracement projection of the Oct 3 - Jan 6 high
*SUP 4: $457.23 - 176.4% retracement projection of the Oct 3 - Jan 6 high
Gasoil stalled last week at $523.75 and traded sharply lower yesterday. The
failure at $523.75 has tilted the outlook to a more neutral position however, it
is worth noting that the Feb 3 low of $481.25 managed to hold yesterday. This is
a possible early bullish signal. A recovery would again refocus attention on the
key resistance at $523.75 where a break would confirm a near-term reversal. Sub
$481.25 resumes the downtrend.

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