ICE GASOIL (Q19): Still vulnerable *RES...>

OIL TECHS: ICE GASOIL (Q19): Still 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: $590.50/79 - High JUL 17 / Former trendline drawn off the jun 18 low

*PRICE: $584.50 @ 06:34 BST Jul 22

*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 expected to maintain a bearish tone following last weeks sell-off that

resulted in a break of trendline support drawn off the Jun 18 low. A bull

channel base, drawn of the Jun 5 low was also probed last week. The focus is now

on support and bear trigger at $567.00, the low of Jul 18. A move below this

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

$568.36 was breached last Thursday. Initial resistance is $590.50.