ICE GASOIL (H20): Probes The $514.75......>

OIL TECHS: ICE GASOIL (H20): Probes The $514.75 Key Resistance

*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: $518.50 - High Feb 14

*PRICE: $514.25 @ 08:23 GMT Feb 17

*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 is holding onto the recovery off the the Jan 3 low of $481.25 signalling

the onset of a possible correction. The former key resistance at $514.75, the

Feb 6 high, the breached last week. A clear break of this level would signal

scope for an extension higher and open $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.