ICE GASOIL (F20): Bullish Outlook Holds...>

OIL TECHS: ICE GASOIL (F20): Bullish Outlook Holds

*RES 4: $636.03 - 1.618 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 3: $630.25 - 1.50 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 2: $624.42 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 1: $618.00 - High Dec 20

*PRICE: $609.75 @ 08:40 GMT Dec 23

*SUP 1: $605.50 - Low Dec 17

*SUP 2: $596.25 - High Dec 6

*SUP 3: $591.25 - Low Dec 13

*SUP 4: $577.75 - Low Dec 11 and a key support

Despite pulling back Friday, GASOIL maintains a bullish tone. The recent break

of key resistance at the Nov 27 high of $595.50 confirmed a range breakout and

in turn confirmed an extension of the recovery that started off the October 3

low of $543.25. Futures have cleared $596.38 and $608.91, the 50% and 61.8%

retracements of the Sep 16 to Oct 3 decline. This has opened the $624.42, 76.4%

retracement. Support lies at $605.50, Dec 17 low.