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OIL TECHS
OIL TECHS: ICE GASOIL (Q20) Bullish Theme Intact
*RES 4: $418.25 - High Apr 2
*RES 3: $401.00 - High Mar 11
*RES 2: $400.00 - Psychological round number
*RES 1: $388.50 - High Jul 21 and the bull trigger
*PRICE: $376.25 @ 07:00 BST Jul 24
*SUP 1: $361.50 - Low Jul 20
*SUP 2: $358.75 - Low Jul 10 and key support
*SUP 3: $353.83 - 50-day EMA
*SUP 4: $340.25 - Low Jun 29
Gasoil futures traded higher Tuesday breaching the former key resistance at
$375.75, Jul 6 high. The move through this hurdle confirms a resumption of the
uptrend that has been in place since the reversal on Apr 28. This sets the scene
for an extension higher towards the $400.00 psychological level next. On the
downside, initial firm support has been defined at $361.50, Jul 20 low.
Retracements are considered corrective.

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