Retail Diesel – Monthly: Currently resting at monthly support of 5.31. (Ichimoku indicator not shown) Daily and weekly swings above and below the blue Tenkan line should be expected. A monthly close below could open the door to the red Kijun line at 4.09. This would be very strong support on a monthly scale.
There was a 5 leg event from the 02’ low to the...
The top chart shows the difference in Retail Diesel prices less Heating Oil Futures. The 60 mo moving average is moving higher currently at 1.25 vs the current spread at 1.88. From 2015 to 2020 the MA for the spread was about 1.00. The accelerated rate of change is very noticeable in recent years. Will the expansion of Renewable Diesel help or hurt this spread?