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Heading South




Breaches Key Short-Term Support


Late SOFR/Treasury Option Trade

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OIL TECHS: ICE GASOIL: (U18) $700 Level Nearing
*RES 4: $785.00 - High November 24 2014 
*RES 3: $750.00 - Measured move from the bull flag breakout 
*RES 2: $698.75 - High May 22 
*RES 1: $690.00 - High May 25 
*PRICE: $689.75 @ 04:58 GMT 
*SUP 1: $668.00 - Resistance now support 
*SUP 2: $653.00 - Intraday low August 22 
*SUP 3: $636.25 - Low August 15 
*SUP 4: $627.00 - Low July 18 
Quiet trading yesterday keeps the focus on the May highs just below $700 as
bulls attempt to post fresh cycle highs and confirm the bull flag formation that
targets $750. Bears need to recover the $668.00 level to shift the near-term
outlook neutral, but a break below the Aug 15 lows of $636.25 would be needed to
give bears the advantage.

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