ICE GASOIL (M20): Bullish Outlook.........>

OIL TECHS: ICE GASOIL (M20): Bullish Outlook Remains Intact

*RES 4: $282.50 - High Apr 21

*RES 3: $280.00 - Low Apr 1 and former breakout level

*RES 2: $276.50 - High May 6

*RES 1: $262.25 - High May 12

*PRICE: $241.00 @ 07:11 BST May 13

*SUP 1: $230.75 - Low May 4 and key near-term support

*SUP 2: $216.00 - Low Apr 29

*SUP 3: $206.50 - Low Apr 28 and primary support

*SUP 4: $200.00 - Psychological round number

Gasoil is trading lower having stalled at $276.50 on May 6. Despite the recent

pullback, a near-term bullish theme holds. The recovery off $206.50, Apr 28 low

resulted in a break of resistance at $257.75, Apr 23 high. Furthermore, futures

have also probed the 20-day EMA further reinforcing a positive outlook although

price is back below the average. Attention is on $282.50, Apr 21 high and

potentially $297.25, Apr 17 high further out. Support is at $230.75.