Technical forecast for Gasoil

gasoil

Gasoil September beat April highs at 940 & closed above here as we now look for a test of 944.50/00. We are very overbought so this could hold the topside today but a break higher in this recent uptrend cannot be ruled out and could target a selling opportunity at 948.50/949.

Good support at 937.50 but below here 394.75/50 should hold the downside today. However a break lower could target 932.50/25 before a buying opportunity at 930.75/00.

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