London Gas Oil reversed from a high above $1,530, failing to break $1,534, with the 5-hour chart showing a slip to $1,463.88 after a bearish engulfing candle at $1,534.88. The latest bar formed at $1,462.88, near Ichimoku cloud support of $1,462-$1,463. A real-time snapshot showed 1,492.75, up 13.50 or 0.91%.
The note described a $1,440-$1,480 no-trade chop zone and lower cloud support at $1,424-$1,432, with $1,430 cited as a reference point. $1,432 is also the 50% Fibonacci retracement and Kijun-sen support, $1,385 is the cloud bottom, and $1,330 is the swing low. Distribution volume on the last candle was 43.56K. MACD was marginally bullish but fading, while RSI showed bearish divergence at the last high.
The scenario outlined short entries at $1,462.88 for an aggressive profile and $1,493 for a conservative profile, with a common stop loss at $1,515. Targets were $1,432, $1,385 and $1,330, corresponding to risk/reward ratios of 2.8, 4.9 and 7.4. The setup was rated medium confidence and described as best for active or short-term bears and swing traders. The item was published 14 September 2026 at 08:11 and updated at 20:18.
