ICE GASOIL (Q20) Monitoring The Risk Of...>

OIL TECHS: ICE GASOIL (Q20) Monitoring The Risk Of A Reversal

*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: $364.75 @ 07:02 BST Jul 20

*SUP 1: $358.75 - Low Jul 10

*SUP 2: $349.52 - 50-day EMA

*SUP 3: $340.25 - Low Jun 29 and key support

*SUP 4: $326.00 - Low Jun 15

Gasoil futures continue to consolidate. Last week's activity resulted in price

moving below a key trendline support 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 the bull trigger remains $375.75, Jul 6

high. A break would confirm a resumption of the uptrend.