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Gasoil Retesting This Week's High

Published 12/04/2013, 06:20 AM
Updated 07/09/2023, 06:31 AM

Gasoil Technicals
Gasoil trying to hold above 948 this morning to retest the high this week at 953. We are overbought but with little sign of a top be ready to go with a break higher for 955/956 and perhaps as far as a selling opportunity at 964/965.

Immediate support is 945/444 then yesterday's low at 941/940 could hold the downside. However if we continue lower there is good support at 936/935 for a buying opportunity with stops below 932.

Weekly outlook: 946/948 did cap last week as predicted and could do so again this week. However a break higher targets 956 and possibly 965/967. Short term support at 933/32 then 100 day moving average at 927/926 before Fibonacci support at 923.

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