Gasoil is trying to make it to the 974.00 target but has so far topped at 973.50. There is good momentum so there is a chance we can push through 974
Gasoil ICE Feb contract Forecast for 24th January 2013Gasoil is trying to make it to the 974.00 target but has so far topped at 973.50. There is good momentum so there is a chance we can push through 974 later in the day and head towards the next target of 977.08/979.19. This is very tough resistance and with the market starting to look over bought, this area should trigger profit taking.
The last 2 session have been held by 965.00 with further support down to 964.50. This should mark the low for today again if tested but watch for a break lower as this suggests a test of the next support at 959.21. Below here presents a nice buying opportunity at 955.26/954.88. We expect a bounce from here but need a stop on longs below 954.00.
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