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ICE GASOIL (H20): Becoming Neutral *RES...>

OIL TECHS
OIL TECHS: ICE GASOIL (H20): Becoming Neutral
*RES 4: $584.75 - High Jan 14
*RES 3: $566.00 - High Jan 22
*RES 2: $541.99 - 38.2% retracement of the Jan 6 - Feb 3 decline
*RES 1: $532.75 - High Jan 29 and key near-term resistance
*PRICE: $504.50 @ 11:06 GMT Feb 21
*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 has settled back into its former range after failing to convincingly
break above the former key resistance at $514.75. This has tilted the outlook to
a more neutral position. To regain bullish momentum, we need to see a clear
break above this range which would open a move to $532.75, the Jan 29 high. Key
support has been defined at the Jan 3 low of $481.25 low. Initial firm support
though is seen at $490.50, the Oct 10 low.

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