London Gas Oil Holds Near $1,254 as Fibonacci Levels Define Next Move

London Gas Oil rebounded to around $1,254 on August 12, placing prices between the 61.8% and 78.6% Fibonacci retracement levels of the previous $1,328-to-$1,086 decline. Momentum indicators remain mixed, with MACD bullish but weak trend strength and fading volume limiting conviction.

For traders, $1,276-$1,280 is the key resistance zone. A sustained breakout with stronger volume could signal a move toward $1,328, while rejection may expose support near $1,235 and $1,207.