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

OIL TECHS
OIL TECHS: ICE GASOIL (U19): Probing trendline resistance
*RES 4: $602.50 - High Jul 31
*RES 3: $601.00 - High Aug 1
*RES 2: $595.00 - Potential bull channel top drawn off the Aug 7 low
*RES 1: $588.00 - High Sep 5 and key intraday resistance
*PRICE: $585.50 @ 06:17 BST Sep 9
*SUP 1: $563.75 - Low Sep 6
*SUP 2: $554.75 - Low Sep 4
*SUP 3: $547.00 - Low Sep 3 and initial key support
*SUP 4: $534.00 - Low Aug 7 and bear trigger
GASOIL begins the week on a firmer note. Price action is testing and probing
trendline resistance at $585.75, drawn off the Jul 11 high. The focus is on
$588.00, Thursday's high where a break would confirm a clear breach of the
trendline and allow for a stronger climb towards $601.00 and $606.75. Price
swings Friday have defined initial support at $563.75. A break of this level
would be bearish and refocus attention on support around $547.00.

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