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

OIL TECHS
OIL TECHS: ICE GASOIL (G20): Bearish Outlook Remains Intact
*RES 4: $612.00 - Low Dec 31
*RES 3: $603.00 - High Jan 9
*RES 2: $593.50 - High Jan 13
*RES 1: $584.25 - High Jan 14
*PRICE: $573.75 @ 06:48 GMT Jan 21
*SUP 1: $566.25 - Low Jan 17
*SUP 2: $565.00 - Low Dec 4
*SUP 3: $563.93 - 76.4% retracement of the Oct 3 - Jan 6 rally
*SUP 4: $556.50 - Low Nov 20
GASOIL remains weak despite the recent bounce off Friday's low. Sentiment
remains heavy following the sharp sell-off from the Jan 6 high of $643.00. This
also resulted in a break of support at $612.00, Dec 31 low to effectively
suggest a clear reversal of the Oct 3 - Jan 6 uptrend. With the technical
picture still bearish, attention is on $565.00, Dec 3 low and $563.93, a
retracement level. $593.50 marks resistance.

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