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(M2) Corrective Bounce Extends


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OIL TECHS: ICE GASOIL: (U17) Focus Returns To 200-DMA
*RES 4: $501.75 - Hourly resistance July 31 
*RES 3: $495.25 - High Aug 10 
*RES 2: $489.50 - Hourly support Aug 10 now resistance 
*RES 1: $485.00 - Hourly resistance Aug 10
*PRICE: $479.00 @ 0430GMT
*SUP 1: $476.75 - Low Aug 8 
*SUP 2: $475.95 - 200-DMA 
*SUP 3: $472.21 - 21-DMA 
*SUP 4: $471.25 - Low July 27
*COMMENTARY: The lack of topside follow through and relatively bearish close
Thursday leaves the contract looking heavy and immediate focus on the 200-DMA.
bears need a close below the 200-DMA to confirm an easing of bullish pressure
and focus on layers of support $457.25-472.21 where key Das and the bull channel
base are located. Layers of resistance are weighing with bulls now needing a
close above $485.00 to ease pressure on the 200-DMA.

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