ICE GASOIL (V19): Deeper retracement......>

OIL TECHS: ICE GASOIL (V19): Deeper retracement likely

*RES 4: $673.50 - High Sep 16 and key resistance

*RES 3: $650.00 - High Sep 17

*RES 2: $625.00 - Intraday high during the US session, Sep 17

*RES 1: $624.00 - High Sep 19

*PRICE: $617.75 @ 06:24 BST Sep 23

*SUP 1: $602.50 - Low Sep 18

*SUP 2: $587.50 - High Sep 12

*SUP 3: $580.00 - High Sep 13 and gap low

*SUP 4: $567.50 - Low Sep 12

GASOIL remains within its recently established consolidative range. The contract

is still expected to continue unwinding the risk related spike of Sep 16 and

thus remains bearish. $603.25, Sep 10 high was breached last week, filling an

initial gap in the chart. A deeper sell-off would open $580.00, Sep 13 high to

fill the entire gap in the chart left by last Monday's sharp spike. The downside

trigger is $602.50. Initial resistance is at the Sep 19 high of $624.00.