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ICE GASOIL (U19): Approaching the.........>

OIL TECHS
OIL TECHS: ICE GASOIL (U19): Approaching the 50-day EMA
*RES 4: $606.75 - High Jul 31
*RES 3: $597.07 - Trendline resistance drawn off the May 16 high
*RES 2: $584.19 - 50-day EMA
*RES 1: $582.00 - High Aug 13
*PRICE: $576.25 @ 06:50 BST Aug 13
*SUP 1: $553.25 Low Aug 13
*SUP 2: $539.00 - Low Aug 8
*SUP 3: $534.00 - Low Aug 7 and bear trigger
*SUP 4: $517.00 - Low Jan 4 (continuation)
GASOIL rallied sharply yesterday clearing resistance at the $560.00 level. While
this has neutralised the recent bearish theme for now, a strong area of
resistance exists around the $584.18 level marked by the 50-day EMA. A clear
break of this area would reinforce a bullish outlook and open potential for a
climb towards $597.07. Support for today lies at $553.25, yesterday's low. A
return below this level would instead refocus attention on $534.00.

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