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ICE GASOIL: (U17) Supported Ahead Of......>

OIL TECHS
OIL TECHS: ICE GASOIL: (U17) Supported Ahead Of 200-DMA
*RES 4: $501.75 - $508.50 - Monthly High Apr 12 
*RES 3: $501.75 - Hourly resistance July 31 
*RES 2: $494.75 - High Aug 1 
*RES 1: $491.75 - Hourly resistance Aug 1a
*PRICE: $489.75 @ 0430GMT
*SUP 1: $487.50 - Hourly support Aug 2 
*SUP 2: $481.00 - Low Aug 2 
*SUP 3: $477.75 - Low Aug 1 
*SUP 4: $475.57 - 200-DMA
*COMMENTARY: Bears have failed to capitalise on the sell-off Tuesday with U17
finding support ahead of the 200-DMA and managing a relatively bullish close
easing pressure on the 200-DMA. Bulls continue to look for a close above $494.75
to reconfirm the bullish bias and return focus to $501.75-516.50. Bears now need
a close below $487.50 to gain breathing room and below the 200-DMA to hint at a
move back to $456.25-465.25.

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