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ICE GASOIL (N20) Holds Above Trendline....>

OIL TECHS
OIL TECHS: ICE GASOIL (N20) Holds Above Trendline Support
*RES 4: $409.50 - High Apr 2 and key resistance
*RES 3: $400.00 - Psychological round number
*RES 2: $366.43 - 76.4% retracement of the Apr 2 - 28 sell-off
*RES 1: $354.75 - High Jun 8 and the bull trigger
*PRICE: $339.00 @ 06:54 BST Jun 16
*SUP 1: $312.25 - Low Jun 12
*SUP 2: $308.93 -Trendline support drawn off the Apr 28
*SUP 3: $301.50 - Low Jun 1
*SUP 4: $286.50 - Low May 29 and key support
Gasoil gains stalled last week and futures appear vulnerable. Attention is on
the initial key support at $308.93, marking trendline support drawn off the Apr
28 low. A break of this line would threaten the recent bull run and also signal
a possible reversal exposing $286.50, May 29 low. While it holds, recent
pullbacks are considered corrective. The key resistance and the bull trigger has
been defined at $354.75, Jun 8 high. A break would resume the uptrend.

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