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ICE GASOIL (U19): Pivot resistance at.....>

OIL TECHS
OIL TECHS: ICE GASOIL (U19): Pivot resistance at $582.00
*RES 4: $606.75 - High Jul 31
*RES 3: $597.71 - Trendline resistance drawn off the Jul 11 high
*RES 2: $586.50 - High Aug 2
*RES 1: $582.00/95 - High Aug 13 / 50-day EMA
*PRICE: $566.75 @ 06:39 BST Aug 15
*SUP 1: $558.50 - Low Aug 14
*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 failed to hold onto Tuesday's gains, selling off sharply yesterday. Key
resistance has been defined at $582.00. Although the recent downtrend has been
neutralised following the rally that began 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 $597.71, drawn off the Jul 11 high. A move below
yesterday's $558.50 low would instead expose key support at $534.00 once again.

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