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ICE GASOIL: (U17) $484.25 Support.........>

OIL TECHS
OIL TECHS: ICE GASOIL: (U17) $484.25 Support Confirms Significance
*RES 4: $516.50 - High Feb 6 
*RES 3: $508.50 - Monthly High Apr 12 
*RES 2: $501.75 - Hourly resistance July 31 
*RES 1: $494.25 - Hourly resistance Aug 1
*PRICE: $493.25 @ 0430GMT
*SUP 1: $490.00 - Alternating hourly support/resistance 
*SUP 2: $484.25 - Hourly support July 28 
*SUP 3: $478.25 - Hourly resistance July 28 now support 
*SUP 4: $475.58 - 200-DMA
*COMMENTARY: Bulls capitalised on the close above the 200-DMA with a spike to
3mth highs in Asia Monday although follow through has been lacking. Layers of
support remain $471.25-490.00. Bears need a close below $484.25 to ease bullish
pressure and below $471.25 to confirm a break of the 200-DMA and shift focus
back to $452.75-465.25. Bulls remain focused on $508.50-520.00 while $484.25
supports.

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