ICE GASOIL (N19): A Close Above $573.00...>

OIL TECHS: ICE GASOIL (N19): A Close Above $573.00 Would be Key

*RES 4: $626.25 - High May 28

*RES 3: $609.78 - 100-dma

*RES 2: $600.75 - Low May 24, now resistance

*RES 1: $589.25 - M/T Pivotal Point

*PRICE: $574.25 @ 07:44 BST Jun 20

*SUP 1: $544.75 - Low Jun 12

*SUP 2: $540.25 - Low June 6

*SUP 3: $536.75 - Low June 5

*SUP 4: $532.27 - 76.4% retracement Dec-May rise

After gasoil's recent recovery had begun to look as though it might be fizzling

out, we have broken through the previous key resistance at $573.00. If we manage

to close above this level, the near-term outlook will remain bullish, with the

next key resistance at $589.25. A failure to close above $573.00 would keep the

outlook neutral and aclose decline back below $544.75 would trigger a renewed

bearish technical signal returning the focus on the $536.75 low and key support.