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ICE GASOIL (N19): Multiple Bearish........>

OIL TECHS
OIL TECHS: ICE GASOIL (N19): Multiple Bearish Signals Triggered
*RES 4: $610.57 - 100-dma
*RES 3: $600.75 - Low May 24, now resistance
*RES 2: $589.25 - M/T Pivotal Point
*RES 1: $564.25 - High June 4
*PRICE: $545.75 @ 05:38 GMT Jun 6
*SUP 1: $536.75 - Low June 5
*SUP 2: $532.27 - 74.6% retracement Dec-May rise
*SUP 4: $515.48 - L/T Trendline Support
*SUP 4: $500.25 - Low Jan 2
The clean and clear break below $556.00 this week intensifies the bearish
picture for Gasoil futures. Momentum indicators are continuing to give negative
signals, although starting to show the very first signs of becoming stretched.
Long term up trendline support, currently intervening at the $515.48 level on
daily charts, is now coming into view. Holding below $564.25 keeps the pressure
on the downside.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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