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

OIL TECHS
OIL TECHS: ICE GASOIL (K20): Corrective Bounce
*RES 4: $278.75 - High Apr 20
*RES 3: $270.00 - Low Apr 1 and former breakout level
*RES 2: $264.75 - High Apr 21
*RES 1: $249.89 - 20-day EMA
*PRICE: $237.00 @ 07:21 BST May 1
*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 has established a S/T
correction. The recovery off Tuesday's low of $181.00 yesterday resulted in a
break of resistance at $237.25, the Apr 23 high. This further reinforces a
bullish tone and opens $249.89, the 20-day EMA. A convincing break of the
average is required to suggest scope for a stronger bounce and open $264.75, Apr
21 high. Initial support is seen at yesterday's $213.00 low.

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