ICE GASOIL: (U18) Bearish Reversal *RES...>

OIL TECHS: ICE GASOIL: (U18) Bearish Reversal

*RES 4: $698.75 - High May 22 

*RES 3: $681.50 - High July 7 

*RES 2: $668.50 - High July 27 

*RES 1: $667.25 - High August 14 

*PRICE: $643.50 @ 07:27 GMT 

*SUP 1: $636.25 - Low August 15 

*SUP 2: $627.00 - Low July 18 

*SUP 3: $620.02 - Bear channel bottom

*SUP 4: $612.78 - 200-DMA

Yesterday's bearish reversal based ahead of 635.00, recoveries were limited to

645.00 leaving a bearish technical formation in place. Focus is now set to

return to the lower end of the recent range, where support is likely to be found

at 627.00 and bear channel base at 620.02. However, a close below here would be

needed to give the bears the momentum to target the 200-dma at 612.78. Bulls

need a break above 667.25 to gain the upper hand.