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ICE GASOIL (Z19): Stuck In The Range......>

OIL TECHS
OIL TECHS: ICE GASOIL (Z19): Stuck In The Range Again
*RES 4: $611.00 - High Sep 19
*RES 3: $602.75 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 2: $596.00 - High Nov 6
*RES 1: $582.00 - High Dec 2
*PRICE: $572.00 @ 07:29 GMT Dec 3
*SUP 1: $566.75 - Low Nov 22
*SUP 2: $557.00 - Low Nov 20
*SUP 3: $548.25 - Low Oct 3 and primary support
*SUP 4: $542.50 - Sep 3 low
GASOIL sold off sharply Friday. This resulted in prices slipping back into the
broad range that has been in place for just over a month. Last weeks focus was
on a possible bullish breakout. For this to return, prices need to gradually
reclaim territory lost Friday and move towards $590.00. The key resistance is at
$596.00, Nov 27 high, a break would confirm a bullish range breakout. Weakness
below Friday's low of $566.75 though would instead expose $557.00.

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