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ICE GASOIL (N20) Breaches The.............>

OIL TECHS
OIL TECHS: ICE GASOIL (N20) Breaches The Retracement Level
*RES 4: $421.00 - Low Mar 6 and a gap high on the daily chart
*RES 3: $409.50 - High Apr 2 and key resistance
*RES 2: $400.00 - Psychological round number
*RES 1: $370.50 - High Jun 23
*PRICE: $359.25 @ 07:12 BST Jun 24
*SUP 1: $347.00 - Low Jun 18
*SUP 2: $320.64/12.25 - Trendline support drawn off the Apr 28 low / Low Jun 12
*SUP 3: $301.50 - Low Jun 1
*SUP 4: $286.50 - Low May 29 and key support
Gasoil traded higher last week and again yesterday resuming the uptrend that
started on Apr 28. The move to fresh highs also confirmed the bullish price
sequence of higher highs and higher lows reinforcing current trend conditions.
366.43, a Fibonacci retracement has been breached and attention turns to the
psychological $400.00 level. Trendline support drawn off the Apr 28 low
intersects at $322.98 today. A break is required to threaten the uptrend.

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