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ICE GASOIL (V19): Direction unclear.......>

OIL TECHS
OIL TECHS: ICE GASOIL (V19): Direction unclear
*RES 4: $677.50 - 2.000 projection of Sep 3 - Sep 10 rally from Sep 12 low
*RES 3: $673.50 - High Sep 16 and key resistance
*RES 2: $662.00 - High Apr 23
*RES 1: $644.00 - High May 22
*PRICE: $641.25 @ 06:19 BST Sep 17
*SUP 1: $613.50 - Low Sep 16
*SUP 2: $603.25 - High Sep 10 and gap low
*SUP 3: $600.00 - High Sep 11
*SUP 4: $587.50 - High Sep 12
GASOIL was volatile Monday following weekend developments in Saudi Arabia. It is
difficult to assess technical readings under such conditions as the market
evaluates the heightened risk concerns. Prices have however defined a key S/T
support at $613.50 where a break is needed to signal an extension lower and open
$603.25 to fill an initial gap in the chart. On the upside, it remains to be
seen whether a break of yesterday's $673.50 high can be achieved near-term.

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