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 Fibonacci support at 907/906 with a low for the day likely here. A break lower however signals continued losses & should target 898/897. Look for a bounce from here at this stage.