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

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

*RES 4: $353.76 - 76.4% retracement of the Apr 2 - 28 sell-off

*RES 3: $336.00 - High Apr 3

*RES 2: $334.25 - High Apr 9

*RES 1: $310.25 - High May 26

*PRICE: $297.75 @ 07:02 BST May 27

*SUP 1: $280.00 - Low May 22 and key near-term support

*SUP 2: $272.50 - Low May 18

*SUP 3: $262.25 - Low May 15

*SUP 4: $237.50 - Low May 13 and key near-term support

Gasoil is bullish and managed a fresh high print yesterday of $310.25. The

recovery off $206.50, Apr 28 low resulted in a break of resistance at $257.75,

Apr 23 high. Furthermore, futures cleared the 20-day EMA and the former

resistance at $276.50, May 6 high further reinforcing the current bullish cycle.

Price has also tested the 50-day EMA currently at $301.63. A clear break of the

average would open 334.25, Apr 9 high. Support is at $280.00, May 22 low.