GSOIL futures

Technical Analysis – Gasoline futures rally above 50-SMA

Posted on December 4, 2018 at 11:39 am GMT

Gasoline futures (for December delivery) managed to violate to the upside the 50-period simple moving average (SMA) on the four-hour chart yesterday, for the first time since early November, recovering some of its longer-term losses following the fall from 751.50. Today the pair jumped well into the Ichimoku cloud to touch two-week highs at 599.38, a sign that buying interest might continue to heat up as the MACD keeps gaining positive momentum significantly above its red signal line. Yet with the RSI approaching its overbought limit of 70, another [..]

Technical Analysis – Gas oil futures hit all-time high; bullish in short and medium-term

Posted on May 25, 2018 at 1:59 pm GMT

London gas oil futures for June delivery (GSOIL) have been running inside an ascending channel since mid-February, touching an all-time high of 704.13 on May 17. While the rally has stalled since then, with the price set to close at 10-day lows today, the market continues to hold far above the Ichimoku cloud and its moving averages, which are positively sloped, signaling that upward pattern is not near to end. Momentum, though, could weaken should the RSI continue to head [..]

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