Gasoil broke 1014/16 resistance as we look to close a gap at 1021 today. We are close and although the market is very over bought it is unwise to fight the trend so a break through 1021 then targets 1030. This is the high from the second half of 2012 and should be tough resistance so not worth holding longs any further.

Support today at 1015/13 but below here we could see 1008/07. This should provide a floor but if we continue lower look for 1002/00.



Long term levels

1045     2012 High

1030     Oct High

1019     Sept High

1008     Last Week’s High

966       Last Week’s Low

959.75  Dec High

952.35  100 Day Moving Average

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