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ICE GASOIL (U19): Watch pivotal...........>

OIL TECHS
OIL TECHS: ICE GASOIL (U19): Watch pivotal trendline resistance
*RES 4: $586.50 - High Aug 2
*RES 3: $585.39 - Trendline resistance drawn off Jul 11 high and key resistance
*RES 2: $582.00 - Aug 13 /
*RES 1: $580.50 - Intraday high
*PRICE: $578.25 @ 06:39 BST Sep 5
*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 reversed higher yesterday with strong gains bringing prices back to the
key resistance band defined by $573.91 - $582.00. This zone represents the
50-day EMA and Aug 13 and 21 highs. Trendline resistance drawn off the Jul 11
high intersects at $585.39 today. A break would represent an important
short-term bullish development and pave the way for a stronger recovery. Initial
key support has been defined at Tuesday's $547.00 low. The trendline is pivotal.

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