ICE GASOIL (J20): Outlook Remains.........>

OIL TECHS: ICE GASOIL (J20): Outlook Remains Bearish

*RES 4: $412.00 - Low Mar 6 and gap high on the daily chart

*RES 3: $389.00 - High Mar 11

*RES 2: $357.75 - High Mar 13

*RES 1: $314.50 - Low Mar 9

*PRICE: $309.25 @ 07:13 GMT Mar 20

*SUP 1: $263.00 - Low Mar 18

*SUP 2: $250.34 - 1.764 projection of the Jan 8 - Feb 3 move from Feb 20 high

*SUP 3: $214.00 - 2.00 projection of the Jan 8 - Feb 3 move from Feb 20 high

*SUP 4: $200.00 - Psychological round number

Gasoil remains vulnerable despite a move off this week's low. The sharp sell-off

Mar 9 and the resumption of the downtrend on Mar 16 still weighs on sentiment.

Technical readings also continue to highlight a clear bearish picture suggesting

further weakness is likely. The next objective is $250.34, a Fibonacci

projection. On the upside, initial resistance is at $314.50. Major resistance

however is at $389.00, the Mar 11 high.