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nmiah7c

Gasoline Topping out

Short
RBOB Gasoline Futures (NYMEX:RB1!)  
nmiah7c Updated   
NYMEX:RB1!   RBOB Gasoline Futures
Trend Analysis
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trendanalysis
Gasoline seems to be topping out. I was surprised that it exceeded the previous high actually.

Moomentum is slowing down, MACD and RSI showing divgernces with the price.

Expect price to retrace down by about 61% of the up move.

Target = 2.11
Comment:
what a nice drop in gasoline last week. not sure if it is ready to come down just yet though.
Comment:
boom, job done, gasoline dropped as expected, and already retraced up.

expecting further upward retracement.
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