ICE GASOIL (G20): Still Under Pressure....>

OIL TECHS: ICE GASOIL (G20): Still Under Pressure

*RES 4: $580.00 - High Jan 20 and key near-term resistance

*RES 3: $566.00 - High Jan 22

*RES 2: $552.75 - High Jan 23

*RES 1: $532.50 - High Jan 27

*PRICE: $512.50 @ 07:00 GMT Jan 28

*SUP 1: $506.00 - Low Jan 27

*SUP 2: $500.00 - Psychological round number

*SUP 3: $499.96 - 138.2% retracement projection of the Oct 3 - Jan 6 high

*SUP 4: $487.75 - 150.0% retracement projection of the Oct 3 - Jan 6 high

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

impulsive sell-off extends. The break on Jan 21 of $566.25, Jan 17 low confirmed

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 $499.96 next, a Fibonacci

retracement extension. Initial resistance is at $532.50, yesterday's high.