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OIL TECHS
OIL TECHS: ICE GASOIL (X19): Correcting
*RES 4: $623.87 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 3: $618.75 - High Sep 19
*RES 2: $610.63 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 1: $602.50 - High Oct 24 and intraday bull trigger
*PRICE: $591.00 @ 07:28 BST Oct 29
*SUP 1: $589.50 - Low Oct 25
*SUP 2: $578.25 - Low Oct 21
*SUP 3: $572.75 - Low Oct 15 and key near-term support
*SUP 4: $569.50 - Low Oct 8
Recent GASOIL gains stalled at Thursday's $602.50 high. The move lower for now
is being viewed as a correction. Intraday support lies at $589.50, Oct 25 low
which if breached would further undermine the recent recovery and expose
$578.25. Until then, the focus is on the 50% retracement of Sep 16 - Oct 3
decline at $610.63. The trigger for gains is $602.50. Momentum studies remain
firm for now, reinforcing the bullish theme.

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