ICE GASOIL (V19): Has Almost Filled The...>

OIL TECHS: ICE GASOIL (V19): Has Almost Filled The Gap

*RES 4: $673.50 - High Sep 16 and bull trigger

*RES 3: $650.00 - High Sep 17

*RES 2: $624.00 - High Sep 19 and key resistance

*RES 1: $604.50 - High Sep 27

*PRICE: $587.00 @ 07:26 BST Oct 2

*SUP 1: $580.00 - High Sep 13 and gap low

*SUP 2: $570.75 - Low Sep 13

*SUP 3: $567.50 - Low Sep 12

*SUP 4: $554.25 - Low Sep 4

GASOIL traded lower again yesterday to a low of $580.50. The recent sell-off is

expected to extend with the large gap in the chart created by the risk related

spike on Sep 16 almost filled. The focus is on a move to $580.00, Sep 13 high. A

print would fill the gap and also open $567.50, Sep 12 low. Resistance has been

defined at $624.00, Sep 19 high. While this level remains intact, the near-term

outlook remains bearish. Initial resistance is at $604.50.