Gas Oil (Jul 11 - ICE) ST: short term rebound
26-May-11
05:57
Our pivot point is at 906.75.
Our preference: short term rebound.
Alternative scenario: the downside breakout of 906.75 would call for 858.5 and 829.5.
Comment: the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. The price is trading above its 20 day MA (944.19) but under its 50 day MA (980.76).
Supports and resistances:
1066.25 *
1037.5 **
1008.5
947 last
925.75
906.75 **
858.5 *
Ticker: QSA
