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ICE GASOIL (M20): Northbound *RES 4:......>

OIL TECHS
OIL TECHS: ICE GASOIL (M20): Northbound
*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: $306.25 - Intraday high
*PRICE: $293.00 @ 07:03 BST May 20
*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 maintains a near-term bullish theme. The recovery off $206.50, Apr 28 low
resulted in a break of resistance at $257.75, Apr 23 high. Furthermore, futures
have cleared the 20-day EMA and the former resistance at $276.50, May 6 high
further reinforcing the current bullish cycle. Currently, price is also
pressuring the 50-day EMA at $302.85. A clear break of this average would open
334.25, the Apr 9 high. Support is at $272.50, May 18 low.

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