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ICE GASOIL (N20) Trendline Support........>

OIL TECHS
OIL TECHS: ICE GASOIL (N20) Trendline Support Remains Intact
*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: $346.75 @ 07:01 BST Jun 17
*SUP 1: $312.25 - Low Jun 12
*SUP 2: $311.27 -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 has recovered this week. Attention has been on initial key support at
$311.27, marking the 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, the uptrend remains intact. The
key resistance and bull trigger is at $354.75, Jun 8 high. A break would resume
the uptrend and open 366.43, a Fibonacci retracement.

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