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ICE GASOIL (Z19): Watching Support At.....>

OIL TECHS
OIL TECHS: ICE GASOIL (Z19): Watching Support At $559.75
*RES 4: $602.75 - 50.0% retracement of Sep 16 - Oct 3 decline
*RES 3: $595.75 - High Oct 24 and Oct 28
*RES 2: $593.75 - High Nov 6
*RES 1: $584.50 - High Nov 11
*PRICE: $569.00 @ 07:04 GMT Nov 13
*SUP 1: $563.50 - Low Nov 8
*SUP 2: $559.75 - Low Oct 31 and key support
*SUP 3: $548.25 - Low Oct 3 and primary support
*SUP 4: $542.50 - Low Sep 3
GASOIL remains above $559.75, Oct 31 low. A break of this important support
would pave the way for a test of primary support at $548.25, Oct 3 low. The
recovery however on Nov 1 and Nov 4 is still viewed as a positive development
despite the recent recent pullback. However to confirm a bullish scenario,
prices do need to clear resistance at $595.75, Oct 24 and 28 high where a break
would open $602.75 as an initial objective.

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