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ICE GASOIL (Q20) Attention Is On..........>

OIL TECHS
OIL TECHS: ICE GASOIL (Q20) Attention Is On Resistance
*RES 4: $418.25 - High Apr 2
*RES 3: $401.00 - High Mar 11
*RES 2: $400.00 - Psychological round number
*RES 1: $375.75 - High Jul 6 and the bull trigger
*PRICE: $374.25 @ 07:39 BST Jul 21
*SUP 1: $358.75 - Low Jul 10 and key support
*SUP 2: $350.35 - 50-day EMA
*SUP 3: $340.25 - Low Jun 29
*SUP 4: $326.00 - Low Jun 15
Gasoil futures are firmer but still within the recent range. Last week's
activity resulted in price moving below a key trendline drawn off the May 13
low. A clear breach of the trendline, confirmed by a move through $358.75, Jul
10 low would highlight a developing bearish threat and signal scope for a deeper
pullback towards $340.25, Jun 30 low. Key resistance and bull trigger remains
$375.75, Jul 6 high. A break confirms a resumption of the uptrend.

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