ICE GASOIL (H20): 2020 Downtrend..........>

OIL TECHS: ICE GASOIL (H20): 2020 Downtrend Resumes

*RES 4: $532.75 - High Jan 29 and key near-term resistance

*RES 3: $523.75 - High Feb 20 and key resistance

*RES 2: $507.50 - High Feb 24

*RES 1: $496.50 - High Feb 25

*PRICE: $477.75 @ 07:18 GMT Feb 26

*SUP 1: $472.38 - 161.8% retracement projection of the Oct 3 - Jan 6 high

*SUP 2: $457.23 - 176.4% retracement projection of the Oct 3 - Jan 6 high

*SUP 3: $432.75 - 200.0% retracement projection of the Oct 3 - Jan 6 high

*SUP 4: $408.27 - 223.6% retracement projection of the Oct 3 - Jan 6 high

Gasoil stalled last week at $523.75 and has traded sharply lower this week

resulting in a break of former support at $481.25. This confirms a resumption of

this year's downtrend and maintains the bearish price sequence of lower lows and

lower highs. Scope is seen for a move towards $472.38 next and $457.23, both

Fibonacci retracement projection levels. On the upside, a move above yesterday's

high of $496.50 is required to provide some bearish relief.