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ICE GASOIL (V19): Off the high *RES 4:....>

OIL TECHS
OIL TECHS: ICE GASOIL (V19): Off the high
*RES 4: $673.00 - Intraday high
*RES 3: $662.00 - High Apr 23
*RES 2: $644.00 - High May 22
*RES 1: $627.75 - High May 28
*PRICE: $626.25 @ 06:50 BST Sep 16
*SUP 1: $615.00 - Intraday low
*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 is volatile 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 retraced almost the
entire overnight spike to $673.50, trading just above the days low of $615.00.
This is a bearish development and does signal scope for a retracement. A move
below $615.00 would open $603.25 and fill a gap in the chart.

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