London Gas Oil is currently trading at $1,446.75, with a Volume Weighted Average Price of $1,442.51. The asset has identified a key structural support level at $1,410, which is a 38.2% Fibonacci retracement. Sellers are looking to push the price down to $1,475, which could fuel a downtrend. Downside targets include $1,359, $1,308, and $1,250, while upside targets are set at $1,524, $1,575, $1,625, and $1,675. The no-trade zone is between $1,430 and $1,460.
Technical indicators show the MACD at -10.11, with the RSI at 42.46, indicating the asset is approaching oversold levels. The ATR is 34.25, representing 2.37%.
For bearish traders, an aggressive entry point is at $1,440, with stop levels at $1,491 and targets at $1,359, $1,308, and $1,250. A conservative entry point is at $1,405, with the same stop level and targets. For bullish traders, an aggressive entry point is at $1,446, with stop levels at $1,394 and targets at $1,524, $1,575, and $1,625. A conservative entry point is at $1,485, with stop levels at $1,433 and targets at $1,575, $1,625, and $1,675.
The article also mentions the Energy Elite Strategy, which has beaten its benchmark by 37% year-to-date, and the Mid Cap Movers Strategy, which has beaten its benchmark by 21%. The Tech Titans Strategy, a flagship strategy, has beaten the S&P 500 by 112% since its launch nearly three years ago.
