ICE GASOIL (H20): Back In A Neutral.......>

OIL TECHS: ICE GASOIL (H20): Back In A Neutral Position

*RES 4: $566.00 - High Jan 22

*RES 3: $541.99 - 38.2% retracement of the Jan 6 - Feb 3 decline

*RES 2: $532.75 - High Jan 29 and key near-term resistance

*RES 1: $523.75 - High Feb 20 and key resistance

*PRICE: $497.25 @ 07:49 GMT Feb 24

*SUP 1: $490.50 - Low Feb 10

*SUP 2: $481.25 - Low Feb 3 and key support

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

*SUP 4: $457.23 - 176.4% retracement projection of the Oct 3 - Jan 6 high

Gasoil stalled last week at $523.75 and is weaker again this morning. The

failure at $523.75 has tilted the outlook to a more neutral position. To regain

bullish momentum, we need to see a clear break above last week's high and this

would open $532.75, the Jan 29 high. Initial support is seen at $490.50, Feb 10

low. Key support though has been defined at the Jan 3 low of $481.25 low. A

break would resume this year's downtrend.