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ICE GASOIL (K20): 2020 Downtrend..........>

OIL TECHS: ICE GASOIL (K20): 2020 Downtrend Resumes
*RES 4: $305.25 - High Apr 13
*RES 3: $300.75 - High Apr 14
*RES 2: $283.00 - High Apr 17 and intraday key resistance
*RES 1: $264.75 - Intraday high
*PRICE: $240.50 @ 09:00 BST Apr 21
*SUP 1: $230.00 - Round number support
*SUP 2: $220.25 - 2.00 projection of Jan 8 - Feb 3 decline from Feb 20 high
*SUP 3: $200.00 - Psychological round number
*SUP 4: $184.79 - 2.236 projection of Jan 8 - Feb 3 decline from Feb 20 high
Gasoil remains bearish and further weakness is likely. The spike higher to
$387.75 on Apr 2 failed to deliver any upside follow through and this continues
to weigh on the contract. Furthermore, the contract has traded through the
recent key support and bear trigger at $260.00, Apr 15 to confirm a resumption
of the 2020 downtrend. Attention is on $220.25 next, a Fibonacci projection
ahead of the psychological $200.00 level. $264.75 is resistance.

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