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OIL TECHS: ICE GASOIL (J19): Bull Flag Breakout?
*RES 4: $673.75 - High Nov 8, 2018
*RES 3: $649.49 - 61.8% Retracement (752.25 Oct high-483.25 Dec low)
*RES 2: $626.41/629.50 - 200-dma/High Mar 1
*RES 1: $620.25 - High Mar 21
*PRICE: $615.50 @ 05:34 GMT Apr 3
*SUP 1: $600.04/595.25 - 50-dma/Low Mar 22
*SUP 2: $587.75/580.22 - High Feb 4/100-dma
*SUP 3: $567.25 - Low Feb 7
*SUP 4: $553.25 - Low Jan 28
Gasoil futures have tentatively broken above down trendline resistance from the
March 1 high suggesting a potential bull flag breakout. A close above the March
21 high at $620.25 would open the key 200-dma/March 1 high at $626.41/629.50
above which would confirm a continuation pattern. Bears need a break below the
50-dma and Mar 22 low at $600.04/595.25 to suggest a bearish reversal, opening
the Feb 4 high & 100-dma at $587.75/580.22.