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Gasoil: Excellent Support At 885/881

Published 11/12/2013, 05:58 AM
Updated 05/14/2017, 06:45 AM

Gasoil could not hold the beak above 905 as we become overbought short term. A drift lower looks the most likely scenario for today, to 899 then 895 & possibly 891. Last week's low at 885 then offers a buying opportunity with further good support down to 881/880.

Above 905 is more positive & could still target 909/910 for a selling opportunity, with stops above the 200 day moving average at 912.

Weekly outlook: Excellent support at 885/881 is a buying opportunity & should see a low for the week. The 200 day moving average at 912 is our first big resistance but above here we could target 922/923.
Gasoil

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