Shorting RBOB ( Gasoline ) at 2.15.
This is largely based on a technical situation:
Two (2) fib levels confluence
88.8% ( MAY ’18 -> DEC ‘18 )
1.27% ( MAR ’19 -> APR ‘19 )
One ( 1 ) notable Fib “Time” Level ( 1.382% FEB ’16 -> MAY ’18 ( Bullish Retrenchment ) )
Mid ’18, Aug ’17 & Jun ‘15
RSI ( Daily Chart ) topped...
This is a long term analysis on Gasoline on the 1W chart. We are trying to determine where this aggressive buying sequence that started at the end of December will stop.
The previous similar sequence stopped just below the 0.618 Fibonacci retracement level. Then it bottomed just under the 0.500 level and consolidated before it resumed the uptrend.
We expect a...
No long explanation here, a rising channel in gasoline which will break to the downside so we are not yet cleared for bull trend just yet, same goes for crude oil as gasoline market trails crude, though sometimes ahead of crude in movement.
HELPFUL VIDEOS TO TEACH YOU: