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OIL TECHS: Rebound Lacking Momentum
*RES 4: $609.78 - 100-dma
*RES 3: $600.75 - Low May 24, now resistance
*RES 2: $589.25 - M/T Pivotal Point
*RES 1: $573.00 - High June 3
*PRICE: $563.50 @ 07:40 BST Jun 19
*SUP 1: $544.75 - Low Jun 12
*SUP 2: $540.25 - Low June 6
*SUP 3: $536.75 - Low June 5
*SUP 4: $532.27 - 76.4% retracement Dec-May rise
Gasoil's recent recovery has fizzled out and the near-term outlook remains
neutral. However, a decline back below $544.75 would trigger a renewed bearish
technical signal returning the focus on the $536.75 low. A break here would
target $532.27. Trend indicators also continue to provide negative signals,
consistent with current trading activity remaining corrective. On the upside,
key resistance is at $573.00.