ICE GASOIL (Q19): Channel base probed *RES 4:...>

OIL: ICE GASOIL (Q19): Channel base probed

*RES 4: $616.25 - High Jul 11 and bull trigger

*RES 3: $608.50 - High Jul 12

*RES 2: $603.50 - High Jul 16

*RES 1: $589.32 - Former trendline support drawn off the low of Jun 18

*PRICE: $578.75 @ 06:38 BST Jul 19

*SUP 1: $567.00 - Low Jul 18

*SUP 2: $557.04 - 76.4% retracement of the Jun 5-Jul 11 rally

*SUP 3: $549.25 - Low Jun 18

*SUP 4: $547.00 - Low Jun 12

Gasoil is bearish following this week's sell-off resulting in a break of

trendline support drawn off the Jun 18 low. Focus is on $575.85, the base of a

bull channel drawn of the Jun 5 low, and the low of Jul 3 at $570.50. Both were

breached yesterday. A clear break, confirmed by a move below $567.00, would open

$557.04, 76.4% of the rally between Jun 5-Jul 11. The 61.8% level at $568.36 was

probed yesterday. Initial resistance is $589.32, the former trendline support.