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ICE GASOIL (U20) Upper End of Recent Range

OIL TECHS
  • RES 4: $428.82 - 200-dma
  • RES 3: $426.50 - High Apr 2
  • RES 2: $400.00 - Psychological round number
  • RES 1: $391.75 - High Aug 5
  • PRICE: $375.50 @ 08:03 BST Aug 14
  • SUP 1: $367.91 - 50-dma
  • SUP 2: $357.42 - 3.0% Lower Bollinger Band
  • SUP 3: $351.50 - Low Jul 30 and a key reversal trigger
  • SUP 4: $345.25 - Low Jun 29

Gasoil futures continue to moderate as markets found some stability at the end of last week. On the upside, key resistance remains at 400.00 and 426.50 after 389.50 was topped at the beginning of August. The Thursday Jul 30 low still marks a key reversal trigger (351.50 for the U20 contract) and highlights a bearish threat.

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