RBOB Gasoline Broke The Weekly Base SupportFrom Sep. 2022, we see the bounces at the white Centerline. This created great support, until recently Sep. 03/24.
The Base support is broken, and price failed to move up from the white Centerline.
Well, if price is not going up, it probably goes down. Potential targets are indicated by the arrows.
Gasolineshort
Gasoline Down to $2.175Oil, Gasoline etc quite over bought, we need a correction.
Lets take this down to 2.175 and re assess. i imagine there will be a pause there before any further falls.
Dont expect downward movement to last long though, oil is very strong generally... so its quite risky shorting, but i can let this opportunity go with a tight stop loss.