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ICE GASOIL (G20): Bearish Outlook.........>

OIL TECHS
OIL TECHS: ICE GASOIL (G20): Bearish Outlook Intact
*RES 4: $640.00 - High Dec 8
*RES 3: $612.00 - Low Dec 31
*RES 2: $603.00 - High Jan 9
*RES 1: $593.50 - High Jan 13
*PRICE: $578.25 @ 07:18 GMT Jan 15
*SUP 1: $572.75 - Low Jan 14
*SUP 2: $569.75 - Low Dec 5
*SUP 3: $565.00 - Low Dec 4
*SUP 4: $563.93 - 76.4% retracement of the Oct 3 - Jan 6 rally
GASOIL remains weak and extended the recent sell-off once again yesterday.
Futures are seen likely to stay soft following the sharp sell-off from $643.00,
Jan 6 high last week. This also resulted in a break of support at $612.00, Dec
31 low to effectively suggest a top has been put in place for now. With the
technical picture looking bearish, attention is on $569.75, Dec 4 low and
565.00, Dec 3 low. $593.50 is resistance.

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