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CNY Fixing - Small Downside Miss


Downtick Into CPI


Modest Downtick

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OIL TECHS: ICE GASOIL (J19): Consolidating Trend
*RES 4: $649.49 - 61.8% Retracement (752.25 Oct high-483.25 Dec low)
*RES 3: $632.85/633.25 - 200-dma/March 1 high
*RES 2: $629.50 - High Mar 1
*RES 1: $620.25 - High Mar 21
*PRICE: $610.00 @ 07:22 GMT Mar 22
*SUP 1: $601.25 - Low Mar 18
*SUP 2: $596.00 - Low Mar 8
*SUP 3: $587.75/586.80 - High Feb 4/100-dma
*SUP 4: $553.25 - Low Jan 28
Gasoil futures breached initial trend resistance, before topping out at $620.25
yesterday. Consolidation remains the theme with next resistance seen from the
Mar 7 high at $629.00, a break above would see bulls cement the uptrend and
target the 200-dma & Mar 1 high at $632.85/633.25. Bears need to clear the $600
level to change the short-term outlook and bring the Feb 4 high & 100-dma back
into view at $587.75/586.80.

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