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Technical Forecast for Gasoil

Technical Forecast for Gasoil


Gasoil for Aug held 906 but we may not make it as far as the 200 day moving average at 922/923 again. We are overbought on the daily chart but if we do see this level it may be wise to exit longs & try shorts with a high for the day expected. Use stops above 927.


We have some short term trend line support at 913 but below here look for Fibonacci support at 907/906 again. A break lower however signals continued losses & should target 898/897. Look for a low for the day with a good chance of a bounce from here.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


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