Gasoline is on a neutral 1D technical setting (RSI = 51.588, MACD = -0.026, ADX = 46.131) as it only crossed over the 1D MA50 on Monday. That was after a 3 week consolidation between the 1D MA50 and the 1D MA200, which held and kept the price over the bottom of the long term Channel Up.
We consider this breakout as the final confirmation of the new rally to the...
This one should be interesting. with so much uncertainly around oil generally, it seems gasolines recent move up has run out of steam.
I'm expecting this back down to 2.18.
Prices are soaring amid a spike in the price of oil, which is refined into gas for cars. The national average price of gas has been at a seven-year high in recent days. Technically price is breaking the next key zone and going up. Price has touched this key zone multiple times since 2011:
04-Oct-2011, 23-Nov-2011, 19-Dec-2011, 29-Jun-2012, 07-Nov-2013,...
Oil, Gasoline etc quite over bought, we need a correction.
Lets take this down to 2.175 and re assess. i imagine there will be a pause there before any further falls.
Dont expect downward movement to last long though, oil is very strong generally... so its quite risky shorting, but i can let this opportunity go with a tight stop loss.
I hate to be on the short side of anythign related to oil at the moment, but gasoline has shown some weakness so im going to take a punt on this.
The wedge on gasoline should come to a breakout shortly,. giving a SHORT target to 2.13 at least.
The gasoline market is huge and primarily depends on the Oil market which is even larger. When a big market shows a very high momentum most likely it is driven by speculations instead of real demand/supply based on usage (when things are normal).
We can see a sharp price increase from March 2020. The price has faced only one major correction, and the rate looks...
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...
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...
