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ICE GASOIL: (Z18) Recovery Fails At.......>

OIL TECHS
OIL TECHS: ICE GASOIL: (Z18) Recovery Fails At 200-DMA 
*RES 4: $800.00 - Resistance 
*RES 3: $751.00 - High Oct 3 
*RES 2: $694.81 - 55-dma 
*RES 1: $647.89 - 200-dma 
*PRICE: $640.00 @ 05:38 GMT 
*SUP 1: $605.75 - High Jan 25, now support 
*SUP 2: $600.00 - Support 
*SUP 3: $551.75 - Low Mar 
*SUP 4: $538.00 - Low Feb 9 
Dec-18 Gasoil futures rallied to as high as $653 yesterday but were unable to
close above the 200-dma, allowing bears to regain control. The focus remains on
the Jan 25 high at $605.75, now acting as support. Bearish momentum appears to
be picking up and a break below this level would open ytd lows. Bulls need to
recover the 200-dma at $647.89 on a closing basis to make the case for a
reversal, opening the 55-dma at $694.81.

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