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ICE GASOIL: (M18) Supported Ahead Of......>

OIL TECHS
OIL TECHS: ICE GASOIL: (M18) Supported Ahead Of 21-DMA
*RES 4: $686.50 - Low Nov 26 2014 (Cont) now resistance
*RES 3: $669.91 - Daily Bull channel top
*RES 2: $662.53 - Bollinger band top
*RES 1: $660.50 - 2018 High May 7
*PRICE: $660.50 @ 0430GMT
*SUP 1: $652.25 - Hourly support May 4 
*SUP 2: $639.40 - 21-DMA 
*SUP 3: $636.25 - Low May 2 
*SUP 4: $619.50 - Low Apr 17
*COMMENTARY: Bulls took comfort last week with support emerging on dips back
towards the 21-DMA resulting in fresh 2018 & 3+ yr highs in Asia today and
adding support to the case for a test of the bull channel top. Daily studies are
well placed for a fresh leg higher. bears now look for a close below $652.25 to
gain breathing room. A close below $636.25 is needed to confirm a break of the
21-DMA and shift initial focus to $619.50.

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