NEWS: Gasoline is falling -1.3%. Gasoline prices are falling after the US energy secretary said that it would be difficult to refill its strategic petroleum reserves, turning sentiment negative.
Possible Scenarios:
If Gasoline fails to breach through S1 of 2.57176, our Research Department expects the Gasoline to undergo a short- term upward correction.
If Gasoline manages to break below its S1 of 2.57176, our Research Department expects the Gasoline to extend its losses to its S2 of 2.54158
Support and Resistance Levels:
Gasoline |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
2.51140 |
2.54158 |
2.57176 |
2.61200 |
2.65224 |
2.68242 |
2.71260 |
Potential Profit or Potential Loss Calculations:
10 pips per 1 trading lot* |
USD |
EUR** |
GBP*** |
||
(+/-) $100 |
(+/-) €93.08 |
(+/-) £81.81 |
*1 trading lot is equivalent of 100.000 units
**EUR/USD = 1.07393
***GBP/USD = 1.22227
Calculations for exchange rate used as of Friday, March 24, 2023, GMT 09:50h