Gasoil last week failed just below our next target of 977.08/979.19. We could try for this today but this is very tough resistance and with the market starting to look over bought, this area should trigger profit taking for the week. However if attempting shorts we need a stop above 981.25 for 982.75 then 989.25 in to next week.

Support at 968/967.25 was test on Friday and we held on here as we bottomed at 967.00, but we are just breaking the one month up trend line, so below here today we could see 964/963.50. A break below 961 however could target very strong support at 657.95/956.65 for a buying opportunity.





Long term levels

979.19     Daily 61.8% Fibonacci

976.75     Last Week’s High

963.50     Daily 50% Fibonacci

959.75     Dec High

959.25     Last Week’s Low

956.28     100 Day Moving Average

951.98     100 Week Moving Average

937.49     200 Day Moving Average

917.88    Weekly 50% Fibonacci


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