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ICE GASOIL (U19): Pressuring trendline....>

OIL TECHS
MNI (London)
OIL TECHS: ICE GASOIL (U19): Pressuring trendline
*RES 4: $602.50 - High Jul 31 
*RES 3: $601.00 - High Aug 1
*RES 2: $594.32 - Potential bull channel top drawn off the Aug 7 low  
*RES 1: $588.00 - High Sep 5 and key intraday resistance
*PRICE: $578.25 @ 06:39 BST Sep 6
*SUP 1: $554.75 - Low Sep 4
*SUP 2: $547.00 - Low Sep 3 and initial key support
*SUP 3: $539.00 - Low Aug 8
*SUP 4: $534.00 - Low Aug 7 and bear trigger
GASOIL extended this weeks bounce yesterday, resulting in a test of trendline
resistance at $585.39, drawn off the Jul 11 high. Prices however are trading
back below the trendline. Yesterday's high of $588.00 represents an important
intraday resistance. A break would confirm a trendline breach and allow for a
stronger climb towards $601.00 and $606.75. A pullback however would refocus
attention on support around $547.00.

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