Wholesale gasoline futures could be telling us that the driving demand is bad and just not there to support these high prices. War and geo politics is pushing Crude Oil prices up as well as the heating related products, but gasoline is trading on its own forces currently. With the rejection at around 4.00 a gallon, is the support here or are we destined to look...
#Gasoline $RB_F RBOB futures bottom close here at $.54 as gasoline crack spread (difference between spot price of crude oil & gasoline) looks to be bouncing from lows.. Hourly chart showing capitulation volume & bullish RSI divergence suggesting downtrend weakening $UGA $USO $VLO - Twitter Post @CashFlo @ 10:53AM CST
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There it is.. #Gasoline $RB_F...
Story : For a number of highly-discussed ab debated reasons, that do not need to be presented here, petrochemicals have seen a substantial devaluation over the course of the last 2 months. While the view from a macro-perspective remains bearish, a rebound from the recent sharp downturn would not a surprise.
Note : The trades presented offer a 1 to 1.75-2.0...
Gasoline Futures (RBOB Gasoline Futures) likely counter trend bounce here off 200weekSMA support at $1.66 to reclaim long-term moving average support of 50monthSMA at $1.70, then rally to test 100weekSMA resistance at $1.80.
Technical Analysis:
- Gasoline Futures (RBOB Gasoline Futures) now testing long-term support of 200weekSMA at $1.66.
- $1.66 also strong...
Over the past two months, the United States Gasoline Fund, LP (NYSEARCA:UGA), which tracks gasoline has fallen around 14% from the recent top of $64.27, to a low of $55.16. The drop in the UGA share price occurred after the stock broke a technical major trend line level.
Many talking heads in the media are looking at this drop and saying that it will benefit...
