Daily Forecast - 05 June 2014
Gasoil June contract
Gasoil continued lower for the next target of 882/881 & bottomed at 879/878. Further losses cannot be ruled out today & could target April lows 875/873. This is the best chance of a low for the week in an oversold market. However on a break lower look for a buying opportunity at 7 month trend line support at 868.
Immediate resistance at 883/884 but above here a selling opportunity at 887/888 with a good chance of a high for the day. However shorts need stops above 890 for a move towards strong resistance at 893.
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