ICE Gasoline March Contract - Forecast for 02/19 by Daytradeideas.com

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By Jason Sen | February 20, 2013 12:29 AM EST

DayTradeIdeas.com

Gasoil range has been established from 1000/999 up to 1029/32. Resistance along the way is at 1011/12 then 1015 with 1019 likely to cap today. However above here look for 1024/25. A close above 1032 today is now needed to continue the bull run to 1037 then 2012 highs of 1045 where
bulls could run in to a big obstacle.

Support at 1006 but below 1004 risks another test of good support at 1000/99 and a bounce likely. Stops needed however below 996 for 989 as the next target.

Long term levels

1045     2012 High

1031     Last Week’s High

1030     Oct High

1019     Sept High

999       Last Week’s Low

959.75  Dec High

958       100 Day Moving Average

The article was first published by DayTradeIdeas.com

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The article was first published by DayTradeIdeas.com

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