NEWS: Gasoline is rising 1.6%. Gasoline prices are rising sharply as supply is expected to continue decreasing during the refinery maintenance period in the United States.
Possible Scenarios:
If Gasoline fails to breach through R1 of 2.63572, our Research Department expects the Gasoline to undergo a short- term downward correction.
If Gasoline manages to break above its R1 of 2.63572, our Research Department expects the Gasoline to extend its gains to its R2 of 2.66881.
Support and Resistance Levels:
Gasoline |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.48130 |
2.51439 |
2.54748 |
2.59160 |
2.63572 |
2.66881 |
2.70190 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €91.83 |
(+/-) £81.24 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.08900
***GBP/USD = 1.23096
Calculations for exchange rate used as of Thursday, March 23, 2023, GMT 13:30h