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ICE GASOIL (U19): Looking for a Bearish...>

OIL TECHS
OIL TECHS: ICE GASOIL (U19): Looking for a Bearish Confirmation
*RES 4: $626.25 - High May 28 (continuation)
*RES 3: $616.25 - High Jul 11 (continuation) and bull trigger
*RES 2: $608.50 - High Jul 12 (continuation)
*RES 1: $603.50 - High Jul 16 (continuation)
*PRICE: $571.00 @ 08:32 BST Aug 5
*SUP 1: $564.00 - Low Aug 1
*SUP 2: $544.25 - Low Jun 12
*SUP 3: $536.75 - Low Jun 5
*SUP 4: $526.50 - 76.4% retracement to Dec 2018 lows
The near-term technical outlook remains bearish following the sharp break lower
through the lower boundary of the two month ascending channel from the June lows
on Friday. However, after managing to close just above the $578.75 key pivotal
support, we need to see a convincing close below here to really cement the trend
lower. Below here the focus returns to the $541.75 June low. Rebounds have
remained corrective, consistent with the developing bearish technical structure.

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