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ICE GASOIL (Z19): Needle Pointing North...>

OIL TECHS
OIL TECHS: ICE GASOIL (Z19): Needle Pointing North
*RES 4: $615.61 - 61.8% retracement of Sep 16 - Oct 3 decline
*RES 3: $611.00 - High Sep 19
*RES 2: $602.75 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 1: $596.00 - High Nov 6
*PRICE: $590.25 @ 06:56 GMT Nov 29
*SUP 1: $579.00 - Low Nov 22
*SUP 2: $567.50 - Low Nov 21
*SUP 3: $557.00 - Low Nov 20
*SUP 4: $548.25 - Low Oct 3 and primary support
GASOIL maintains a bullish stance following the rebound on Nov 20 and 21. Prices
Wednesday probed the key resistance parameter at $595.75, Oct 24 and 28 high
with a high print of $596.00. Follow through would highlight an important
breakout and establish an uptrend. This would pave the way for a move towards
$602.75, 50% of the Sep 16 - Oct 3 decline. Key support has been defined at
$557.00, Nov 20 low.

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