ICE GASOIL (N19): Rebound Lacking.........>

OIL TECHS: ICE GASOIL (N19): Rebound Lacking Momentum

*RES 4: $609.78 - 100-dma 

*RES 3: $600.75 - Low May 24, now resistance 

*RES 2: $589.25 - M/T Pivotal Point

*RES 1: $573.00 - High June 3

*PRICE: $563.00 @ 06:19 GMT Jun 17

*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

The rebound by Gasoil futures has lacked momentum, keeping the structure of the

recovery from the early June lows corrective. Gains have fallen short of the

corrective target (38.2% of the last decline at $570.56). A decline back below

$552.50 would trigger a renewed bearish signal returning the focus to the

$536.75 low. A break below here targets $532.27. Trend indicators provide

negative signals, consistent with trading activity remaining corrective.