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Gasoil: Hold Support At 892/891

Published 03/25/2014, 08:35 AM
Updated 07/09/2023, 06:31 AM

Gasoil Weekly Chart

Gasoil held 892/891 to climb back up to resistance at 899/900, seeing a high for the day exactly here as predicted. Back below the 200 week moving average at 895 now, but we must hold support at 892/891 or below here adds pressure and risks a retest of support at last week's low of 885/884. Use this as a buying opportunity with stops below 883. A break lower could then target 876/875 this week.

If we can hold 892/891 however we have a chance to climb back up to resistance at 896. We should struggle here but if we reach 899/900 there is a good chance of a high for the day once again. Only a break above 904 is seen as positive for this week.

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