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ICE GASOIL (K20): Downtrend Remains.......>

OIL TECHS
OIL TECHS: ICE GASOIL (K20): Downtrend Remains Intact
*RES 4: $264.75 - High Apr 21
*RES 3: $255.77 - 20-day EMA
*RES 2: $237.25 - High Apr 23
*RES 1: $206.25 - High Apr 27
*PRICE: $192.25 @ 07:12 BST Apr 29
*SUP 1: $181/00-00 - Low Apr 28 / Round number support
*SUP 2: $162.85 - 2.382 projection of Jan 8 - Feb 3 decline from Feb 20 high
*SUP 3: $150.00 - Round number support
*SUP 4: $145.13 - 2.500 projection of Jan 8 - Feb 3 decline from Feb 20 high
Gasoil remains weak. Futures stalled at $237,25 on Apr 23 and have since
remained under pressure. The move below $200.00 Monday, exposed last week's key
low of $188.25 which was breached yesterday. The break confirms a resumption of
the 2020 downtrend and paves the way for weakness towards $162.85 next, a
Fibonacci projection. On the upside, a break of $237.25 is required to signal a
short-term reversal. Initial resistance is at 206.25.
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