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ICE GASOIL (X19): Likely To Remain........>

OIL TECHS
OIL TECHS: ICE GASOIL (X19): Likely To Remain Heavy
*RES 4: $610.63 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 3: $602.50 - High Oct 24 and bull trigger
*RES 2: $594.00 - High Oct 29
*RES 1: $582.25 - High Oct 31
*PRICE: $570.00 @ 07:33 BST Nov 1
*SUP 1: $563.75 - Low Oct 31
*SUP 2: $554.50 - Low Oct 3 and primary support
*SUP 3: $546.25 - Low Sep 3
*SUP 4: $539.25 - Low Aug 8
The move lower this week in GASOIL extended further yesterday and the contract
is likely to remain under pressure. Support at $572.75, Oct 15 low and $569.50,
Oct 8 low has been cleared leaving the path open for a move towards primary
support at $554.50, Oct 3 low. Momentum studies are bearish reinforcing the
current bearish theme. Initial resistance for today is at $582.25, yesterday's
high.

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