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ICE GASOIL (X19): Still Looking For An....>

OIL TECHS
OIL TECHS: ICE GASOIL (X19): Still Looking For An Extension Higher
*RES 4: $618.75 - High Sep 19
*RES 3: $610.63 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 2: $602.50 - High Oct 24 and bull trigger
*RES 1: $596.50 - High Nov 4 and Nov 6
*PRICE: $581.50 @ 07:25 GMT Nov 7
*SUP 1: $581.75 - Low Nov 5
*SUP 2: $563.75 - Low Oct 31
*SUP 3: $554.50 - Low Oct 3 and primary support
*SUP 4: $546.25 - Low Sep 3
GASOIL defined a key support last week at $563.75 which if cleared, would pave
the way for a test of primary support at $554.50, Oct 3 low. The recovery on Nov
1 and Nov 4 is viewed as a positive development. Follow through and in
particular a breach of $596.50 would open the key resistance at $602.50 where, a
break confirms a bullish resumption. This would open $610.63, a retracement
level as an initial objective.

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