Keep eyes on the price of Gasoline, this could trigger a stock market contraction and recession as discretionary capital is sucked into gas higher prices. Gasiline is trending above the 50 and 200 MAs, it is signalling over bought now however.
Everything is mentioned in the chart Best of luck
This spread is now on the radar but waiting to see thing settle down a bit in Texas. So will be ready to act when refiners come back on line or if we push to a crazy extreme
waiting to get long for some profits, waiting looks like negative infinity showing convergence to - infinity waiting
Hoping on a dip below 1.40 to get long. Longer term seller above 2.80.
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.
On April 11, a fresh STEO report comes out, so you should wait for the updated forecast for the oil market from an official source. Conclusions on this report will be published in the blog www.cofutrading.com. But at the moment the situation is as follows: OPEC reduces production, and the US increases it. But along with the growth in production, which is...
United States Gasoline Fund Testing Rising Channel Support and downtrend resistance with FIBO levels
RBOB Gasoline futures at NYMEX adjusted to USDMXN, converted Gallon unit to litters and applied IEPS fix tax of MXN$4.61 plus 16% VAT.
Crude is hitting some support as it come close to the (blue) up-sloping trendline at around 43. Additionally the 200 day MA is right around that area. We are oversold in terms of Bollinger, RSI and Stochastik, with the Stochastik generating a buy signal Should the market break, targets on the downside at 39, 35 and contract low at 26ish.... Option idea: IMHO...
Gas popped on the news that a line caught fire in the south of the US. So notice how the news event negated any sign of the B3 Weeklies study working. As price capitulated and calmed down, the levels in the study regained validity. The support has held and 1.4719 mean is the target. R:R 1.5 to 1.