ICE GASOIL (F20): Rally Extends *RES 4:...>

OIL TECHS: ICE GASOIL (F20): Rally Extends

*RES 4: $654.75 - 2.00 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 3: $649.50 - Sep 16 high and major resistance

*RES 2: $640.00 - Round number resistance

*RES 1: $636.03 - 1.618 projection of Oct 3 - Oct 28 rally from Nov 20 low

*PRICE: $633.50 @ 07:38 GMT Jan 3

*SUP 1: $616.25 - Intraday low

*SUP 2: $612.50 - Low Dec 31

*SUP 3: $609.00 - Low Dec 23 and key near-term resistance

*SUP 4: $596.25 - High Dec 6

GASOIL has rallied sharply today and traded above the recent high of $631.75,

Dec 30 high. This confirms a resumption of the uptrend that has been in place

since the early Oct lows. Price action in December also reinforced the bullish

theme. The early December break of key resistance at $595.50, the Nov 27 high

confirmed a range breakout. The focus is on $636.03, a Fibonacci projection and

$640.00. Key support has been defined at $612.50, the Dec 31 low.