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

OIL TECHS: ICE GASOIL (K20): 2020 Downtrend Intact

*RES 4: $337.25 - Low Mar 12 and 13

*RES 3: $327.25 - High Mar 20 and key resistance

*RES 2: $305.25 - High Apr 13

*RES 1: $300.75 High Apr 14

*PRICE: $278.50 @ 07:15BST Apr 17

*SUP 1: $260.00 - Low Apr 15 and bear trigger

*SUP 2: $255.71 - 1.764 projection of Jan 8 - Feb 3 decline from Feb 20 high

*SUP 3: $250.00 - Round number support

*SUP 4: $220.25 - 2.00 projection of Jan 8 - Feb 3 decline from Feb 20 high

Gasoil remains bearish and further weakness is likely. The recent spike higher

to $387.75 on Apr 2 failed to deliver any upside follow through and this is

weighing on the contract. Furthermore, the price Wednesday traded through the

key support and bear trigger at $270.00, Apr 1 low. This confirms a resumption

of the 2020 downtrend and opens $255.71 next, a Fibonacci projection. Initial

firm resistance is seen at $300.75, Apr 14 high.