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ICE GASOIL (N20) Bullish Price Sequence...>

OIL TECHS
OIL TECHS: ICE GASOIL (N20) Bullish Price Sequence Intact
*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: $366.43 - 76.4% retracement of the Apr 2 - 28 sell-off
*PRICE: $359.00 @ 07:10 BST Jun 19
*SUP 1: $333.25 - Low Jun 16
*SUP 2: $315.95/12.25 - 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 has recovered this week and resumed the uptrend that started on Apr 28.
The move to fresh highs also confirms the bullish price sequence of higher highs
and higher lows reinforcing current trend conditions. The focus is on 366.43, a
Fibonacci retracement. Attention this week has been on support at the trendline
drawn off the Apr 28 low that intersects at $315.95 today. A break would
threaten the recent bull run and also signal a possible reversal.

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