The fund invests in futures contracts for gasoline, other types of gasoline, crude oil, diesel-heating oil, natural gas and other petroleum-based fuels. The Benchmark Futures Contract is the futures contract on gasoline as traded on the New York Mercantile Exchange that is the near month contract to expire, except when the near month contract is within two weeks...
Was planning on waiting for a wedge pop but since UGA became my best trade of 2022 so far and we have a decent high volume hammer here today , I am taking this as a first buy and hopefully can add a second position on the WP when and if it happens .
Entry 70.53
Stop 66.99
PT 1 - 74.04 sell 1/4 raise stop to half risk
P2 2 - 77.25 Sell 1/4
PT 3 - just because...
Although I am not allowed to take longs in stock market now with the SPY and QQQ under their 21 emas , I have decided to try modifying my rules to still allow for commodities related longs .As long as they maintain overall low correlation to the market , I think its very reasonable to try out some commodities long bets even the market in RTM mode ( red trading...
While I kept this trade for subscribers and did not publish it here. I want people to understand
the impact this massive move will have on poor countries. There is a potential for deaths around
the world far beyond the borders of Ukraine and Russia without firing off a single nuke that so
many fear.
Again this is not something new from what I have been saying...
UGA 2h Wolfe Wave Short Side from TOS Option. A Wolfe Wave is a chart pattern composed of five wave patterns in price that imply an underlying equilibrium price. Investors who use this system time their trades based upon the resistance and support lines indicated by the pattern.
Apparently Bitcoin is resembling 2013 - well, the last time we saw gas prices this high was in 2013-2014. Experts say to expect a run-up through July. I noted last Fall, if you want to make yourself feel better, maybe (not financial advice) buy some UGA and when you fill up at the pump you will feel like you are paying yourself. :-)
You can see the chart...
Every time I drive buy a gas station or when I fill up, I think to myself that I should buy enough United States Gasoline Fund to cover the rising cost of fuel.
Of course, I'd have to pay short-term tax - but wouldn't it cool if we could direct UGA profit to a debit card and pay for our gas that way? :-) Just a random thought...
A buy signal is generated. This is a Bullish indicator signaling UGA's price could rise from here. Traders may explore going long the stock or buying call options. I identified 41 similar cases where UGA's MACD histogram became positive, and 36 of them led to successful outcomes. Odds of Success: 88%.
#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
twitter.com
There it is.. #Gasoline $RB_F...
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%...
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 prices to be volatile ahead of Trump conference: McKnight
Roger McKnight, chief petroleum analyst, with En-pro International joins BNN for a closer look at gasoline prices across Canada. He says that gasoline prices will reflect Trump coming into office and news from OPEC.
