ICE GASOIL (H19): False Break Of 21-DMA...>

OIL TECHS: ICE GASOIL (H19): False Break Of 21-DMA

*RES 4: $700.00 - Resistance 

*RES 3: $668.00 - Low Nov 5 

*RES 2: $636.37/633.25 - 200-dma/High Mar 1 

*RES 1: $629.00 - High Mar 7 

*PRICE: $620.20 @ 05:34 GMT Mar 11 

*SUP 1: $612.40 - 21-dma

*SUP 2: $603.50 - Low Mar 8 

*SUP 3: $590.75 - High Feb 4 

*SUP 4: $552.50 - Low Jan 28 

Gasoil futures broke below their 21-dma on Friday but the dip was short lives

and momentum has returned to the upside once again. Bulls continue to look for a

break above the March 7 high at $629.00 to allow a retest of the 200-dma and the

March 1 high. Above here would suggest a resumption of the broader bull market.

To change the outlook bears look for a close below the 21-dma at $612.40, below

here would bring the Friday's low at $603.50 back into view.