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ICE GASOIL (M19): Channel Top Taken Out...>

OIL TECHS
OIL TECHS: ICE GASOIL (M19): Channel Top Taken Out
*RES 4: $697.75 - High Oct 25, 2018 
*RES 3: $681.92 - 76.4% retracement of Oct-Dec decline 
*RES 2: $672.75 - High Nov 8, 2018 
*RES 1: $666.75 - High May 16
*PRICE: $663.25 @ 01:57 GMT May 17 
*SUP 1: $625.64/623.77/623.50 - 55-dma/200-dma/Low May 7 
*SUP 2: $620.75 - Low April 26 
*SUP 3: $598.50 - Low March 28 
*SUP 4: $592.00/589.60 - Low Mar 8 / 38.2% retracement of Dec-April move 
Gasoil futures broke above channel resistance yesterday posting new ytd highs as
upside momentum resumes. Bulls look to yesterday's high at $666.75 to cement the
break and open the Nov 8 high at $672.75 ahead of the 76.4% retracement of the
Oct-Dec decline at $681.98. A downside break of the 55-dma/200-dma/May 7 low at
$625.64/623.77/623.50 is needed to suggest a downside reversal towards the April
26 low.

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