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

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.