Technical forecast for Gasoil

gasoil1

Gasoil unexpectedly beat 882.75/883.75 with resistance at 889.35 today. We should struggle here so watch for a high for the day but shorts need stops above 893 for a test of resistance at 898.

We are overbought so there is a risk of profit taking. A drift lower to support at 875.65/25 is possible but below here we should find a buying opportunity at 870/869 with stops below 866.50.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More