🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Gasoil: Broke Below 439

Published 12/10/2013, 06:14 AM
Updated 07/09/2023, 06:31 AM

Gasoil
Gasoil broke below 439 for a buying opportunity at 100 day moving average support at 929/928 and this trade worked perfectly as we bottomed exactly here. Immediate resistance at 937 could hold a move higher so profit taking is advised, but above here we could reach 943/944 for a selling opportunity with stops above 946.

Good support at 929/928 could hold the downside again so we can try longs for the second time with stops below 926. Next support at 923 but 919 should see a bounce.

Weekly outlook: 949 capped most days last week and could do so again this week. However a break higher targets 956 and possibly 965/967. Short term support at 937/935 then 100 day moving average at 929/928 before Fibonacci support at 923.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.