Gasoil continued lower as predicted to hit our target of 981/979. We expected this to offer an excellent buying opportunity with a low for the correction expected here. We did over run slightly to 976 but have bounced as hoped. We expect to see run back up to 989/990 today & here we may top out for the weekend but if we can push higher look for 998/999. This should cap the bounce with the longer term picture looking negative now & a sell off expected again next week.

The 980/77 band is expected to hold again today if tested but a break should pressure for 971. Below here we have excellent support at 966/964.



Long term levels

1045     2012 High

1031     Last Week’s High

1030     Oct High

1019     Sept High

999       Last Week’s Low

959.75   Dec High

958       100 Day Moving Average


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