ICE GASOIL (G20): Downside Extension......>

OIL TECHS: ICE GASOIL (G20): Downside Extension

*RES 4: $593.50 - High Jan 13

*RES 3: $584.25 - High Jan 14

*RES 2: $580.00 - High Jan 20 and key near-term resistance

*RES 1: $566.00 - High Jan 22

*PRICE: $550.50 @ 07:25 GMT Jan 23

*SUP 1: $548.25 - Intraday low

*SUP 2: $539.50 - Low Oct 3 and key support

*SUP 3: $537.75 - Low Sep 3

*SUP 4: $530.25 - Low Aug 7

GASOIL remains weak and has once again traded to a fresh trend low as the

impulsive sell-off extends. The break on Tuesday of $566.25, Jan 17 low confirms

a resumption of the downtrend that has been in place since the sharp reversal

off the Jan 6 high of $643.00. Further weakness is seen likely with momentum

studies also pointing south. Attention is on $539.50, the Oct 3 low and key

support. Firm resistance has been defined at $580.00, Jan 20 high.