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Remains Above Tuesday’s Low


MS: Core PCE Seen at +0.25% M/M


Trading Closer To Its Recent Highs

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OIL TECHS: ICE GASOIL: (V17) Bulls Need Close Above $480.75
*RES 4: $480.75 - Hourly resistance Aug 14 
*RES 3: $478.60 - 200-DMA 
*RES 2: $477.00 - Hourly support Aug 14 now resistance 
*RES 1: $470.50 - Hourly support Aug 15 now resistance
*PRICE: $468.25 @ 0430GMT
*SUP 1: $465.00 - Low Aug 16 
*SUP 2: $461.26 - 100-DMA 
*SUP 3: $455.00 - High July 24 now support 
*SUP 4: $450.68 - 55-DMA
*COMMENTARY: V17 is now gaining traction below the 21-DMA ($476.00) with
immediate focus on the 100-DMA. Bears look for a close below the 100-DMA to add
weight to the case with below $442.00 to see bears targeting $408.25 June lows.
Initial resistance is noted at $470.50 with bulls needing a close above to gain
breathing room and above $480.75 to shift initial focus back to $487.75. The
Bollinger base ($452.65) and is the key concern for bears.

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