Daily Forecast - 28 July 2014
Gas oil August contract
Gasoil finally broke the 7 session range highs of 886/887 to hit our selling opportunity at 900/02 & has topped almost exactly here at 899 so far. There is a good chance this will hold again today & trigger profit taking to 893/892. We meet short term trend line support at 890 with a good chance of a low for the day here. Exit shorts & try longs with stops below 887.
A break above 904 needs to trigger stops on shorts as we could then target the 907/908 resistance area.
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