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ICE GASOIL (N19): Clearance of $573.00....>

OIL TECHS
OIL TECHS: ICE GASOIL (N19): Clearance of $573.00 marks the return of bulls
*RES 4: $613.54 - 61.8% retracement of the May 16-Jun 5 low
*RES 3: $598.88 - 50% retracement of the May 16-Jun 5 low
*RES 2: $594.71 - 50-day EMA
*RES 1: $584.25 Intraday high and Jun 20 high
*PRICE: $579.50 @ 07:41 BST Jun 21
*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 confirmed. Following yesterday's move through former
resistance at $573.00, and together with rising momentum studies the outlook
appears promising for bulls. The focus is now on the 50-day EMA at $594.72 and
the 50% retracement of the May 16-Jun 5 decline at $598.88. Initial support sits
$568.25.

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