ICE GASOIL (H20): Trend Remains Bearish...>

OIL TECHS: ICE GASOIL (H20): Trend Remains Bearish

*RES 4: $449.75 - High Mar 6

*RES 3: $435.50 - Low Feb 28

*RES 2: $412.50 - Low Mar 6 and gap high on the daily chart

*RES 1: $396.00 - Mar 9 high and gap low on the daily chart

*PRICE: $365.00 @ 07:17 GMT Mar 10

*SUP 1: $315.75 - Low Mar 9

*SUP 2: $304.01 - 1.382 projection of the Jan 6 - Feb 2 move from Feb 20 high

*SUP 3: $300.00 - Psychological round number

*SUP 4: $285.25 - 1.500 projection of the Jan 6 - Feb 2 move from Feb 20 high

Gasoil suffered a sharp sell-off yesterday. This again confirmed a resumption of

this year's downtrend paving the way for more weakness. The focus is on $304.01,

a Fibonacci projection and $300.00. Note that yesterday's price action has

created a $396.00 - $412.50 gap on daily charts and it would not be a surprise

to see the market fill this gap. Whether that happens in the near-term or at a

later date remains to be seen. Trend remains down.