Short RBZ2016 long HOZ2016. Last year the price of RBOB rise relative to the price of HO. Refineries switched to produce more RBOB compared to HO we are now seeing weakness in RBOB compared to HO due to over supply. Looking for $-0.3 As described by traders in industry trade is the widow maker because of the volatility within it.
After yesterdays ugly finish, Rbob has staged a late evening rally to close out within two pips of the high set yesterday. In an ideal world we would have closed over this. Need to see higher numbers tomorrow or the risk of a double top comes into play. Macd/Rsi/Stoch all tell us that this level should be taken out tomorrow and higher numbers to come
bit of an ugly finish to the day for june rbob, ugly looking candle, and a failure to close above the april high of 1.6180. uptrend is still intact, but price action could be turning. need to see what tomorrow brings
Has had its first run at the recent April highs, breached it for small period but currently back under. Needs to close above 16180 to take the oil complex higher Technicals are all showing tho the odds are good on it happening
whilst Brent and wti have taken out the important resistance levels, Rbob is lagging, which given we are approaching peak demand season is somewhat of a concern looking for jun rbob to break 1.6180 to give signal that whole complex can take a further step higher
pretty horrific close for june rbob - serious trendline failure and surely targets now 1.41
RBN2016 is in uptrend and made pullback to the uptrend.
I'm waiting for confirmation bar to entry a short position. Negative indications are starting to appear.
Anyone trades these? Curious on seasonality summer driving ahead, any opinions? $CL_F $RB_F $USO
Energy sector on the way up. Hourly chart showing an interesting coil. Buy at breakout today 04March15 and close by the end of the day or at specified target. Tight stop.Risk/Reward 2.18.
"Rickshaw man" reversal candle appeared on monthly time frame right at the target of broken down Ascending triangle. Price can pullback to break point at $2.5 level. It's healthy move and technically good to watch where the pullback stalls.....then if stopped at or below triangle's support just short it! Lucky and intelligent trades - put stops!
Gasoline has seen a crazy rally in the first six weeks of 2015, after a record number of daily declines; but, considering the continued oversupply in both crude and gasoline inventories, RBOB could look to pullback. No longer in an oversold condition on the daily chart, gas has been unable to close above $1.6192, as well as a minor descending trend line. So far,...
RBU2014 - The energy sector is showing strenght. RBOB double bottom with reversal bar today 13 Aug 2014. This could be a long term bottom. Crude and heating oil show similar patterns. The terget could be revised depending on the development.
$RB_F Break over that level could signal further strength in Crude Oil $CL_F
$RB_F $USO Its about 8% off its low ticks from early Nov. Could be a tell for crude oil..