Daily Forecast - 31 July 2014
Gasoil August contract
Gasoil unable to challenge strong resistance at 899/901 but holding 887/886 support. Outlook is negative & a break lower is more likely today. Be ready to go with a break to target 878/877 for a buying opportunity. However failure here risks a retest of of July lows at 872/871.
Above 888 is less negative & can target 891/892. Try shorts with stops above 894. Strong resistance at 899/901 is then the next selling opportunity but shorts need stops above 903 as we could then target the 907/908 resistance area.
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