Daily Forecast - 09 May 2014
Gasoil May contract
Gasoil building quite a solid base & beat resistance at 904/05 getting very close to our target of 909/910. We should struggle here today but a break higher not out of the question & could target resistance at 913/914. If prices continue higher this week look for a selling opportunity at 917/918.
Immediate support is 904/903 & could hold the downside but below here sees 902/901. We should see a bounce from here but if we continue lower there is a risk of a retest of 896/895.
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