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ICE GASOIL (Q19): Uptrend intact *RES.....>

OIL TECHS
OIL TECHS: ICE GASOIL (Q19): Uptrend intact
*RES 4: $625.00 - High May 28
*RES 3: $621.58 - Bull channel top drawn off the low of Jun 5
*RES 2: $616.25 - High Jul 11 and bull trigger
*RES 1: $608.50 - High Jul 12
*PRICE: $597.00 @ 06:22 BST Jul 16
*SUP 1: $595.00 - Low Jul 15
*SUP 2: $585.00 - Low Jul 10
*SUP 3: $583.87 - Trendline support drawn off the low of Jun 18
*SUP 4: $576.50 - Low Jul 9
Gasoil uptrend remains intact and the recent pullback is viewed as a correction.
The resumption of the trend was confirmed following the break last week of the
$607.75, Jul 1 high. This also resulted in a breach of the 61.8% retracement of
the May 16-Jun 5 decline at $612.91. With momentum studies back in a bullish
mode, attention turns to $625.00 and $630.43. The latter is the 76.4%
retracement level. On the downside, support has been defined at $585.00.

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