Headlines: - Oil Futures shrugged off larger than expected EIA Build up +3% - OPEC expects global demand to drop after release of monthly report showing revision down - Gasoline & Heating Oil both push higher breaking away from weeks lows
Gasoline prices finished relatively flat after recovering mid-week from falls of around -4% to finishing the week at 1.5041. Data released by EIA did show slightly better than expected build data lower than analyst expectations. This did have a slight impact on pricing which did assist in this pullback we did see. Saying this though, this is the 12 weeks straight...
stop @ 1.5850 target 1.8120 the reason I say small position is because its a cheap asset making any size move larger in percentage. should the trade move against us I will be taking 3 other positions small as well. 2nd 1.67, 3rd 1.66, 4th @ 1.6480 Another reason why I love this position is because the roll over on the buy side pays 26% interest annualy so...
NYMEX:RBF2020 Clear rectangle on the January Futures of the RBOB Gasoline. A breakout could lead to an interesting trend to ride. When trading commodities and futures contracts you should always take into account the specifications of each contract to calculate exactly how many contracts to buy or sell short on the basis of your risk management and position...
May be a possible GAIN/PROFIT in the oil stocks long/short term depending on the next upcoming days/weeks. as seen in the diagram this stock could be a potential rise and gain in all of the upcoming oil stocks add this to your watch list.
We have discovered a 1980s pattern on Gasoline (RB) that is strikingly simalar the recent candle action on 1W. We are rather puzzled though as to which point of the 1980s sequence we are currently at. In 1980s the Golden Cross (MA50 over MA200) emerged after a Double Bottom. Currently we are past that Golden Cross and the price is approaching the last low on a...
Gasoline made two important break outs this week: 1) above the 1D Lower High trend line and 2) the 1.7659 4H Resistance. Trading now on standard bullish set up (RSI = 62.821, MACD = 0.013, Highs/Lows = 0.0339), a Channel Up may emerge if the 1.7868 Resistance is rejected. If broken then the uptrend will most likely continue until it reaches the MA200. It will be...
NATGAS complete ABCD pattern and may go down for next few days..
Pattern: Channel Up on 4H. Signal: Bullish after it bounced on the 1D Support and broke the previous Channel Down. Target: 2.0400 (next Resistance).
As the financial community focuses on the rally in oil, one by-product that has not received much attention but has performed just as well, is gasoline (UGA as a proxy). Since January 2019, the price of West Texas Intermediate crude oil prices have rallied 37% so far this year to $63 a barrel, with gasoline prices not too far behind, rallying over 29.79%...
Pattern: Channel Up on 1D. Signal: Bullish if then price pulls back near 1.8900. Target: 1.9800 (projected Higher High of the pattern).
This is a long term analysis on Gasoline on the 1W chart. We are trying to determine where this aggressive buying sequence that started at the end of December will stop. The previous similar sequence stopped just below the 0.618 Fibonacci retracement level. Then it bottomed just under the 0.500 level and consolidated before it resumed the uptrend. We expect a...
Just a follow up on one of my favorite assets NEOGAS. If you are intrigued by the argument below give us a like/follow! (CREDIT to Darky999) A few of us in this sub have been discussing / arguing / debating about the NEO vs GAS price. It's been a great set of discussions, and I've been deliberately antagonistic to others in order to really get a passionate...