Heating oil vs Gasoil Spread

Last Thursday,?the Heating Oil vs Gasoil (HOGO) for May fell to a low near 17 cents --closing below the lower bollinger band on the chart

The mean reversion setup established then has been confirmed, thus suggesting that the value of Heating Oil should gain on Gasoil.

A move over 18 cents would put the Heating Oil on better footing.?Below the 17 cent area-support is seen at the spike low from last August at 15.5 cents

Resistance lies up at about 19.5 cents and then above that light resistance is seen at 20.5 cents

Are?the?following?factors?supportive?for?the?HOGO?widening?

Reports seen today have Gasoil stockpiles in Europe at a very high level. While in the U.S., refiners are said to be slow at exiting turnarounds, thus limiting some supply in the near term.