Market Overview

Technical Forecast for Gasoil

Technical Forecast for Gasoil
Gasoil for Aug held just above support at 913.50/912.50 where we expected a low for the day as we bottomed at 914.50. We have now pushed above the 200 day moving average at 922/923 but not above 927 to trigger stops on shorts. However a break higher cannot be ruled out and could target 931 then a move towards March/April highs at 935/936.
Look for support at 924/923.50 but below here could reach 919/918. If we continue lower we could test the low for the last 2 days at 914.50-913.50.

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Posted-In: Technicals Commodities Markets Trading Ideas


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