GASOLINE Excellent short-term buy opportunity.
Gasoline (RB1!) is on a minor pull-back on the 1D chart, below both the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). The 1D RSI has been rebounding since the October 05 oversold bottom, something that has done the exact same way the previous two times on May 04 2023 and December 08 2022. Both of those fractals have (so far) similar structure with the current sequence since the September 13 High, and both reached at least their 0.618 Fibonacci retracement level on those rebounds.
As a result, we are taking advantage of the current pull-back to get a more comfortable low risk buy and target 2.500 (marginally below the 0.618 Fibonacci level).
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As a result, we are taking advantage of the current pull-back to get a more comfortable low risk buy and target 2.500 (marginally below the 0.618 Fibonacci level).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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