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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: $281.50 @ 07:03 BST May 29
*SUP 1: $272.50 - Low May 18
*SUP 2: $262.25 - Low May 15
*SUP 3: $237.50 - Low May 13 and key near-term support
*SUP 4: $230.75 - Low May 4
Gasoil is consolidating but remains bullish having managed a fresh high print
Tuesday of $310.25. The recovery off $206.50, Apr 28 low resulted in a break of
$257.75, Apr 23 high. Furthermore, futures cleared the 20-day EMA and a former
resistance at $276.50, May 6 high reinforcing the bullish cycle. Price has also
tested the 50-day EMA currently at $300.26 where a clear break would open
334.25, Apr 9 high. The next support is at 272.50, May 18 low.