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ICE GASOIL (N19): Bulls take centre.......>

OIL TECHS
OIL TECHS: ICE GASOIL (N19): Bulls take centre stage
*RES 4: $625.25 - High May 28
*RES 3: $613.54 - 61.8% retracement of the May 16-Jun 5 low
*RES 2: $598.88 - 50% retracement of the May 16-Jun 5 low
*RES 1: $594.95 - 50-day EMA
*PRICE: $590.25 @ 06:51 BST Jun 24
*SUP 1: $568.25 - High Jun 10
*SUP 2: $557.00 - Low Jun 19
*SUP 3: $544.75 - Low Jun 12
*SUP 4: $536.75 - Low June 6
Gasoil bullish conditions were confirmed last week following the strong rally
through former resistance at 568.25, the Jun 10 high. Momentum studies are
supportive of the current bullish tone as the 14-period RSI looks north. This
follows the unwinding of oversold conditions from early Jun. The focus is on the
50-day EMA at $594.95 and the 50% retracement of the May 16-Jun 5 decline at
$598.88. Initial support sits $568.25.

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