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OIL TECHS: ICE GASOIL (U19): Key resistance still at $582.00
*RES 4: $595.25 - Trendline resistance drawn off the Jul 11 high
*RES 3: $586.50 - High Aug 2
*RES 2: $580.96/582.00 - 50-day-EMA / High Aug 13
*RES 1: $569.00 - High Aug 15
*PRICE: $563.50 @ 06:12 BST Aug 20
*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 key resistance remains $582.00, the Aug 13 high. Although the recent
downtrend that began on Jul 11 has been neutralised following the rally off the
Aug 7 low, clearance of $582.00 is required to signal the onset of a stronger
bullish theme. This would open trendline resistance at $595.25, drawn off the
Jul 11 high. A move below the Aug 13 low of $553.25 would instead expose key
support at $534.00 once again. A break resumes the downtrend.