Gas future recovery lost all momentum, 200 SMA resistance?
Hello Traders!
The price of Gasoline Futures has recently returned to its normal range but the momentum of its recovery seems to be completely used up. The 50 SMA may have recently crossed over the 100 SMA, but both the MACD as well as the RSI look rather pessimistic, both indicating bearish divergence. I would be very surprised if the price crossed over the 200 SMA, which has acted as resistance in the past, but let's better wait for the next few candles before we trade on weak signals.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
The price of Gasoline Futures has recently returned to its normal range but the momentum of its recovery seems to be completely used up. The 50 SMA may have recently crossed over the 100 SMA, but both the MACD as well as the RSI look rather pessimistic, both indicating bearish divergence. I would be very surprised if the price crossed over the 200 SMA, which has acted as resistance in the past, but let's better wait for the next few candles before we trade on weak signals.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
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