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ICE GASOIL (Q19): Remains vulnerable......>

OIL TECHS
OIL TECHS: ICE GASOIL (Q19): Remains vulnerable
*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: $597.00 - High Jul 24
*PRICE: $586.00 @ 05:49 BST Jul 25
*SUP 1: $578.75 - Low Jul 23
*SUP 2: $567.00 - Low Jul 18
*SUP 3: $557.04 - 76.4% retracement of the Jun 5-Jul 11 rally
*SUP 4: $549.25 - Low Jun 18
Gasoil is expected to maintain a bearish tone and yesterday's sell-off suggests
the recent correction higher has run its course. Last weeks decline resulted in
a break of a trendline drawn off the Jun 18 low. A bull channel base, drawn of
the Jun 5 low was also probed. The focus remains on the support and bear trigger
at $567.00, the low of Jul 18. A move below here would open $557.04, 76.4% of
the rally between Jun 5-Jul 11. Initial resistance is $597.00.

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