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ICE GASOIL (G20): Bearish Theme Intact....>

OIL TECHS
OIL TECHS: ICE GASOIL (G20): Bearish Theme 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: $572.50 @ 07:15 GMT Jan 17
*SUP 1: $571.00 - Low Jan 16
*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 edged lower once again yesterday. Futures are still seen
likely to stay soft 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 looking bearish, attention is on $569.75, Dec 4 low and 565.00, Dec 3
low. $593.50 is resistance.

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