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ICE GASOIL (M20): Heading North *RES 4:...>

OIL TECHS
OIL TECHS: ICE GASOIL (M20): Heading North
*RES 4: $303.39 - 50-day EMA
*RES 3: $300.00 - Psychological round number
*RES 2: $297.25 - High Apr 17
*RES 1: $293.75 - High Apr 20
*PRICE: $282.50 @ 07:09 BST May 18
*SUP 1: $262.25 - Low May 15
*SUP 2: $237.50 - Low May 13
*SUP 3: $230.75 - Low May 4 and key near-term support
*SUP 4: $216.00 - Low Apr 29
Gasoil maintains a near-term bullish theme. The recovery off $206.50, Apr 28 low
resulted in a break of resistance at $257.75, Apr 23 high. Furthermore, futures
have now cleared the 20-day EMA and the former resistance at $276.50, May 6 high
further reinforcing the current bullish cycle. Attention is on $297.25, Apr 17
high and the psychological $300.00 level. Support is at $262.25, May 15 low.

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