ICE GASOIL (K20): Corrective Bounce.......>

OIL TECHS: ICE GASOIL (K20): Corrective Bounce

*RES 4: $270.00 - Low Apr 1 and former breakout level

*RES 3: $264.75 - High Apr 21

*RES 2: $251.27 - 20-day EMA

*RES 1: $237.25 - High Apr 23

*PRICE: $223.75 @ 07:06 BST Apr 30

*SUP 1: $213.00 - Low Apr 30

*SUP 2: $190.75 - Low Apr 29

*SUP 3: $181.00 - Low Apr 28 and key support

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

Gasoil has recovered off the lows earlier this week and is establishing a

short-term correction. The recovery off Tuesday's low of $181.00 signals scope

for a test of resistance at $237.25, the Apr 23 high and $251.27, the 20-day

EMA. A convincing break of the average is required to suggest scope for a

stronger bounce. On the downside, initial support is seen at today's intraday

low of $213.00. Major support lies at $181.00.