NEWS: Gasoline price increased 1.5%. Higher oil prices are driving gasoline prices higher this afternoon.
Possible Scenarios:
If Gasoline fails to breach through R2 of 2.30531, our Research Department expects the Gasoline to undergo a short-term downward correction.
If Gasoline manages to break above its R2 of 2.30531, our Research Department expects the Gasoline to extend its gains to its R3 of 2.3225.
Support and Resistance Levels:
Gasoline |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.20790 |
2.22509 |
2.24228 |
2.26520 |
2.28812 |
2.30531 |
2.32250 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €88.3 |
(+/-) £73.78 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.13248
***GBP/USD = 1.35539
Calculations for exchange rate used as of 13:56 (GMT) 05/1/2022