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OIL TECHS: ICE GASOIL (M20): Bullish Outlook Remains Intact
*RES 4: $297.25 - High Apr 17
*RES 3: $282.50 - High Apr 21
*RES 2: $280.00 - Low Apr 1 and former breakout level
*RES 1: $276.50 - High May 6
*PRICE: $255.00 @ 07:15 BST May 12
*SUP 1: $243.25 - Low May 6
*SUP 2: $230.75 - Low May 4 and key near-term support
*SUP 3: $216.00 - Low Apr 29
*SUP 4: $206.50 - Low Apr 28 and primary support
Gasoil stalled at $276.50 May 6. Despite the recent pullback, a near-term
bullish theme remains in place. The recovery off $206.50, Apr 28 low resulted in
a break of resistance at $257.75, Apr 23 high. Furthermore, futures have also
probed the 20-day EMA further reinforcing the current bullish cycle. Attention
is on $282.50, Apr 21 high and potentially $297.25, Apr 17 high further out.
Firm support is at $230.75.