ICE GASOIL (K20): Broader Bearish Theme...>

OIL TECHS: ICE GASOIL (K20): Broader Bearish Theme Remains Intact

*RES 4: $264.75 - High Apr 21

*RES 3: $256.25 - Low Apr 20

*RES 2: $237.25 - High Apr 23

*RES 1: $222.25 - High Apr 24

*PRICE: $193.25 @ 08:08 BST Apr 27

*SUP 1: $188.25 - Low Apr 22 and the bear trigger

*SUP 2: $184.79 - 2.236 projection of Jan 8 - Feb 3 decline from Feb 20 high

*SUP 3: $180-00 - Round number support

*SUP 4: $162.85 - 2.382 projection of Jan 8 - Feb 3 decline from Feb 20 high

Gasoil is weaker. Futures stalled at $237,25 on Apr 23 and remain under

pressure. The move below $200.00today suggests scope for a deeper move lower and

this has exposed last weeks key low of $188.25. A break would confirm a

resumption of the 2020 downtrend and pave the way for weakness towards $184.79,

a Fibonacci projection. On the upside, a break of $237.25 is required to

reinstate a bullish picture. Initial resistance is at 222.25, Apr 24 high.