Technical Forecast for Gasoil

Gasoil September outlook is now negative as we look for a test of 932.50 support. A bb Tuesday’s low of 929.25 should then target 925/924.50 for a short term buying opportunity. Be ready with stops on longs below 922 for 919/918. If we fall any further this week look for excellent Fibonacci & 200 day moving average plus roll over gap support at 915/914 & a very good buying opportunity at this stage.

 

Immediate resistance at 938.50/939 but if we continue higher look for a selling opportunity at 944/945 again today. Be aware of strong Fibonacci resistance at 949 just above.