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Free AccessICE GASOIL (N20) Trendline Support........>
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.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.