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ICE GASOIL: (U17) Pressure Back on........>

OIL TECHS
OIL TECHS: ICE GASOIL: (U17) Pressure Back on 200-DMA
*RES 4: $501.75 - Hourly resistance July 31 
*RES 3: $494.75 - High Aug 1 
*RES 2: $491.75 - Hourly resistance Aug 1a 
*RES 1: $486.00 - Hourly resistance Aug 1
*PRICE: $483.50 @ 0430GMT
*SUP 1: $475.58 - 200-DMA 
*SUP 2: $471.25 - Hourly support July 27 
*SUP 3: $465.25 - Low July 26 
*SUP 4: $461.50 - High July 21 now support
*COMMENTARY: The lack of topside follow through on 3mth highs Monday has taken
its toll with a sell-off and bearish close that leaves the contract looking
heavy and pressuring the 200-DMA. Correcting O/B studies are seen weighing on
the contract. Bears need a close below $471.25 to confirm a break of the 200-DMA
and shift focus back to $452.75-465.25 where key DMAs and the bull channel base
are noted. Bulls need a close above $494.75 to reconfirm a bullish bias.

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