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ICE GASOIL (M20): Bullish Outlook.........>

OIL TECHS
OIL TECHS: ICE GASOIL (M20): Bullish Outlook Remains Intact
*RES 4: $353.76 - 76.4% retracement of the Apr 2 - 28 sell-off
*RES 3: $336.00 - High Apr 3
*RES 2: $334.25 - High Apr 9
*RES 1: $310.25 - High May 26
*PRICE: $297.75 @ 07:02 BST May 27
*SUP 1: $280.00 - Low May 22 and key near-term support
*SUP 2: $272.50 - Low May 18
*SUP 3: $262.25 - Low May 15
*SUP 4: $237.50 - Low May 13 and key near-term support
Gasoil is bullish and managed a fresh high print yesterday of $310.25. The
recovery off $206.50, Apr 28 low resulted in a break of resistance at $257.75,
Apr 23 high. Furthermore, futures cleared the 20-day EMA and the former
resistance at $276.50, May 6 high further reinforcing the current bullish cycle.
Price has also tested the 50-day EMA currently at $301.63. A clear break of the
average would open 334.25, Apr 9 high. Support is at $280.00, May 22 low.

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