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ICE GASOIL (Q20) Bearish Risk *RES 4:.....>

OIL TECHS
OIL TECHS: ICE GASOIL (Q20) Bearish Risk
*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: $365.25 @ 06:52 BST Jul 15
*SUP 1: $358.75 - Low Jul 10
*SUP 2: $347.03 - 50-day EMA
*SUP 3: $340.25 - Low Jun 29 and key support
*SUP 4: $326.00 - Low Jun 15
Gasoil futures are currently trading near recent lows. This week's move lower
has resulted in price trading below the key trendline support drawn off the May
13 low that intersects at $368.43 today. A clear breach of the trendline would
highlight a developing bearish threat and signal scope for a deeper pullback
towards $340.25, Jun 30 low. Key resistance and the bull trigger remains
$375.75, Jul 6 high.

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