ICE GASOIL (J19): Bullish Breakout?.......>

OIL TECHS: ICE GASOIL (J19): Bullish Breakout?

*RES 4: $645.33 - 61.8% Retracement (744.75 Oct high-484.50 Dec low)

*RES 3: $628.37/629.31 - 200-dma/March 1 

*RES 2: $623.25 - High Mar 7 

*RES 1: $616.00 - High Mar 14,19

*PRICE: $617.25 @ 18:58 GMT Mar 20 

*SUP 1: $601.25 - Low Mar 18 

*SUP 2: $596.00 - Low Mar 8 

*SUP 3: $587.75/585.89 - High Feb 4/100-dma 

*SUP 4: $553.25 - Low Jan 28 

Gasoil futures are attempting to break higher from the consolidation pattern

developed since the start of the month. Trend resistance has been breached. The

50-dma is moving further above the 100-dma to confirm the bullish signal. The

200-dma at $628.37 is in focus, just ahead of the early month high at $629.50.

Above here the 61.8% retracement of the decline from the $744.75 October peak is

at $645.33. Monday's low at $601.25 forms an important near-term base.