ICE Gasoline March Contract - Forecast for 02/19 by Daytradeideas.com

 
on February 19 2013 8:29 AM

Gasoil range has been established from 1000/999 up to 1029/32. Resistance along the way is at 1011/12 then 1015 with 1019 likely to cap today. However above here look for 1024/25. A close above 1032 today is now needed to continue the bull run to 1037 then 2012 highs of 1045 wherebulls could run in to a big obstacle.Support at 1006 but below 1004 risks another test of good support at 1000/99 and a bounce likely. Stops needed however below 996 for 989 as the next target.

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Long term levels1045     2012 High1031     Last Week’s High1030     Oct High1019     Sept High999       Last Week’s Low959.75  Dec High958       100 Day Moving Average

 

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