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Gasolinefutures

RBOB GASOLINE FUTURES (RB1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 3.4808 Pivot: 3.3401 Support : 3.2003 Preferred Case: On the H4, with prices bouncing off the ichimoku indicator and moving along the ascending trendline while the RSI is moving along an ascending trendline, we have a bullish bias that price will rise to the pivot at 3.3401 in line with the swing high resistance and 78.6% fibonacci projection. Once there is upside confirmation of price breaking the pivot structure, we would expect bullish momentum to carry price to 1st resistance at 3.4808 where the swing high resistance and -61.8% fibonacci expansion are. Alternative scenario: Alternatively, price may drop to the 1st support level at 3.2003 in line with the swing low support and 78.6% fibonacci projection. Fundamentals: No Major News
NYMEX:RB1!Long
by Genesiv
RBOB GASOLINE FUTURES (RB1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 3.3488 Pivot: 3.2843 Support : 3.1886 Preferred Case: On the H4, with prices moving above the ichimoku cloud and along the ascending trendline , we have a bullish bias that price will rise to the pivot at 3.2843 in line with the swing high resistance, 50% fibonacci retracement and 78.6% fibonacci projection. Once there is upside confirmation of price breaking pivot structure, we would expect bullish momentum to carry price to 1st resistance at 3.3488 in line with pullback resistance, 61.8% fibonacci retracement and 161.8% fibonacci extension. Alternative scenario: Alternatively, price may drop to the 1st support level at 3.1886 in line with the pullback support. Fundamentals: Investors are worried interest-rate hikes will slow the economy as central banks get aggressive in combating inflation, giving us a lower demand for gasoline and resulting in a bearish view on gasoline. We'll need to exercise caution for this setup because our fundamentals and technicals are not completely aligned.
NYMEX:RB1!Long
by Genesiv
RBOB GASOLINE FUTURES (RB1!), H4 Potential for Bearish DropType : Bearish Momentum Resistance : 3.6525 Pivot: 3.5009 Support : 3.1892 Preferred Case: On the H4, with price moving below the ichimoku cloud and along the descending trendline, we have a bearish bias that price will rise and drop from the pivot at 3.5009 in line with the overlap resistance to the 1st support at 3.1892 where the 61.8% fibonacci projection and swing low support are. Alternative scenario: Alternatively, price may break pivot structure and rise to the 1st resistance at 3.6525 where the pullback resistance, 100% fibonacci projection and 78.6% fibonacci retracement are. Fundamentals: U.S. gasoline demand is down roughly 4.5% from last week, giving us a bearish bias on gasoline.
NYMEX:RB1!Short
by Genesiv
RBOB GASOLINE FUTURES (RB1!), H1 Potential for Bullish RiseType : Bullish Rise Resistance : 3.8663 Pivot: 3.6472 Support : 3.5036 Preferred Case: On the H4, with price moving above the ichimoku cloud and within the ascending channel , we have a bullish bias that price will drop and rise from the pivot at 3.6472 in line with the overlap support and 38.2% fibonacci retracement to the intermediate resistance at 3.7250 where the 127.2% fibonacci extension and overlap resistance are. Once there is upside confirmation of price breakthough of intermediate resistance, we would expect bullish momentum to carry price to the 1st resistance at 3.8663 where the swing high resistance and 78.6% fibonacci projection are. Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support level at 3.5036 in line with the swing low support and 100% fibonacci projection . Fundamentals: Due to global supply demand issues of gasoline originating from the sanctions in place against Russia, we have a bullish view on gasoline.
NYMEX:RB1!Long
by Genesiv
LONG UGA @ $8.50#Gasoline $RB_F RBOB futures bottom close here at $.54 as gasoline crack spread (difference between spot price of crude oil & gasoline) looks to be bouncing from lows.. Hourly chart showing capitulation volume & bullish RSI divergence suggesting downtrend weakening $UGA $USO $VLO - Twitter Post @CashFlo @ 10:53AM CST twitter.com There it is.. #Gasoline $RB_F RBOB futures likely long-term bottom here @ $.46 with massive capitulation volume & hammer candle rally back over $.50 or $UGA $8.80.. Expect gasoline futures upside rally to backtest 10dayEMA @ $.80 spot price or $14 $UGA stock price $USO $VLO - Twitter Post @CashFlo @ 1:27PM CST Playing this upside move with UGA October 16th $16 calls @ 1.00 twitter.com
AMEX:UGALong
by CashFlo_Trading