API Release this week has shown a gain up for the week with Gasoline posting a build of 2.226 million barrels
- Gasoline is now approaching the important 0.725 price handle once again - This level has been seen in the past as a level of strong price resistance
- Gasoline Bounces of 0.6250 handle - OPEC+ Meetings scheduled for Thursday which could see volatility role into Gasoline markets - Gasoline dropped to the beginning of the year due to falling demand within the US region
Headlines: • Crude Finishes Flat Whilst Gasoline Futures Drop -6% Within Asia • CNOOC Announces the Postponement of its Canadian East Coast Project Due to Covid-19 • US Futures Fall as Virus Concerns Reappear Whilst Asia Starts the Quarter Off Lower
Headlines • Gasoline Surges Above 0.60 Level Posting +12% Gain in Asia • Petrobras to Cut Production & Reduce Capital Expenditures in a Bid to Off-Set Virus Impacts • US Futures Retreat in Asia Breaking Weeks Uptrend
Headlines • Further Oil & Gas Companies Announce Expenditure Cuts with TOTAL Set to Cut into the Year • Gasoline Continues Its Plummet Down -31% on Monday Close • UK Closes Non-Essential Business as Countries Go into Quarantine to Slow Spreads
Headlines • COT Report Shows Cut in Long Gasoline Positions for Managed Money • RBOB Gasoline Prices Continue Plunge Down Below 0.55 Handle • US Futures Down as Congress Fails to Agree to Further Aid
Headlines • Gasoline Sheds Further Seeing It Drop -9.64% Monday Open • China Releases Industrial Production Data Showing Drop of a Staggering -13.5% • US Futures Fall Ahead of Open as Fed Cuts Interest Rates Close to Zero
Dates in the future with the highest probability for price direction reversals
Headlines: • Crude Extends its Losses in Asia With NYMEX Crude Down -3.16% + RBOB Gasoline Down -3.29% • UN Secretary General Calls for Immediate Ceasefire After 33 Turkish Soldiers Killed in Idlib • Asian Equities Feel Full Force of Sell Pressure with Nikkei225 Down -4.60%
The RBOB Gasoline is in a Bear Market Rally with price trading above the 50 ema, which is below the 200 ema, which is below the 800 week ema. The 50 week ema is currently slightly up trending, but by and large the long term emas are mostly flat. This implies an accumulation/distribution zone. The intermediate term Elliott Wave requires a rally above 1.7785 to...
hey traders, it looks like natgas is going to retest current year's low. 2.04 - 2.1 area is on my radar, I will be looking for a reversal formation within this area to buy the market expecting a pullback at least to 2.250
hey traders, bulls keep pushing natgas to higher levels of structure. I want to short the market from 2.86 level. Stop will lie above the underlined zone of supply: 3.06 Targets are based on structure: 2.6 2.4
We have discovered a 1980s pattern on Gasoline (RB) that is strikingly simalar the recent candle action on 1W. We are rather puzzled though as to which point of the 1980s sequence we are currently at. In 1980s the Golden Cross (MA50 over MA200) emerged after a Double Bottom. Currently we are past that Golden Cross and the price is approaching the last low on a...
Gasoline made two important break outs this week: 1) above the 1D Lower High trend line and 2) the 1.7659 4H Resistance. Trading now on standard bullish set up (RSI = 62.821, MACD = 0.013, Highs/Lows = 0.0339), a Channel Up may emerge if the 1.7868 Resistance is rejected. If broken then the uptrend will most likely continue until it reaches the MA200. It will be...
Pattern: Channel Up on 4H. Signal: Bullish after it bounced on the 1D Support and broke the previous Channel Down. Target: 2.0400 (next Resistance).