ICE GASOIL (M19): Closed Below $600.......>

OIL TECHS: ICE GASOIL (M19): Closed Below $600

*RES 4: $666.75 - High May 16

*RES 3: $626.71 - 200-dma

*RES 2: $626.25 - High May 28

*RES 1: $610.61 - 100-dma

*PRICE: $588.75 @ 05:55 GMT May 31

*SUP 1: $577.50 - Low Feb 12

*SUP 2: $575.00 - 50% retracement Dec-May rise

*SUP 3: $565.50 - Low Feb 1

*SUP 4: $553.35 - 61.8% retracement Dec-May

Gasoil futures managed to close under the $600 level yesterday for the first

time since Mar 28. Recovery efforts have so far remained shallow and keeps the

downtrend intact with near-term support at $577.50 from the Feb 12 low. Below

here opens the 50% fibo of the Dec-May rise at $575.00, ahead of the Feb 1 low

at $565.50. Bulls need a weekly close above $600 to stabilise the outlook,

before challenging the 100-dma at $610.61, ahead of the May 28 high at $626.25.