The SPR release was a non-event, why would it be.
Less asphalt is preferable.
Heavy Sours are not ever going to relieve Price.
The exception is DOT projects.
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April to June as the Flip for unleaded fuel production.
Refineries lead this transition and switch over to summer-
blend production in March and April.
In...
gas at the pumps tells the oil, can't have one without the other. Oil support at volume profile for now, who knows how much more lockdown ahead with the clowns
Trend Analysis
The main view of this trade idea is on the 4-Hour Chart. Gasoline futures (RBOB) appears to be in a bearish flag pattern setup. The pole of the flag can be seen from the sharp decline from 2.55 highs to the initial low at 2.31. Then RBOB began to gingerly channel lower and is currently retesting the 2.31 support level. If RBOB breaks below that...
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.
In_Flay_Shun - EX - Food & Energy isn't working out too well.
Unleaded Gasoline:
The Trend it is said - IS Your Friend
October 25, 2021 3.476
October 18, 2021 3.416
October 11, 2021 3.36
October 04, 2021 3.285
September 27, 2021 3.271
September 20, 2021 3.28
September 13, 2021 3.262
September 06, 2021 3.273
August 30, 2021 3.237
August 23, 2021 3.243
August 16,...
Cowen on Crude: "We forecast a 1.8MM bbl crude build, in-line with API and seasonal historical levels. Imports could increase 0.4MM bpd w/w while exports fall 0.4MM bpd. We estimate that refinery throughput will increase 0.1MM bpd w/w. The production adjustment could fall 0.1MM bpd w/w."
On Gasoline: "We forecast a 3.9MM bbl gasoline draw compared to API's 0.5MM...
The price for 42,000 gallons of NY Hub Unleaded Gasoline continues to move higher.
Every Dip is bought.
Weekly Volumes witnessed the Sell Week of 10/17.
The Dip, of course, was bought.
It is simply following the trajectory of Crude Oil... or is it.
When RB was trading below $2.20 - the price of at the pump Unleaded...
Yeah, naw, it wasn't too much less than...
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,...
Put away those Oklahoma Credit Cards,
Gasoline Prices appears set to soften.
Rallies post 13th August have Bear Market characteristics.
Subtle though market is also making lower highs.
*Short ideas are SELL ideas only, don't support outright short selling.*
Peek the detailed breakdown notes
in the high def chart links below :
NYMEX:RB1!
AMEX:UGA
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.
Gasoline seems to be topping out. I was surprised that it exceeded the previous high actually.
Moomentum is slowing down, MACD and RSI showing divgernces with the price.
Expect price to retrace down by about 61% of the up move.
Target = 2.11
