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Rb1!signals

GASOLINE Bottom confirmed. 3-month rally ahead.Gasoline (RB1!) formed a confirmed technical bottom on the 3.5-year Support Zone and the Lower Lows of the Falling Wedge. At the same time, the 1W RSI bounced from oversold territory (below 30.00) back above its MA trend-line, confirming a bullish reversal. The previous Lower Lows bottom reached marginally above the 0.786 Fibonacci retracement level. As a result we remain committed to our long-term Target of 2.600 (below also the Lower Highs trend-line), which we expect to get hit within the next 3 months. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
1
GASOLINE Do-or-die moment before total collapse.Gasoline (RB1!) is approaching not only the Lower Lows trend-line from the December 12 2022 Low but also the Support Zone that has been in effect in the past 3.5 years. Naturally, this is the most critical Support Cluster of all, if the market is avoid a brutal sell-off in the coming months. That will be if Gasoline closes a month below the Support Zone. Until then, this is its last chance to stage another multi-month Bullish Leg similar to those of early 2023 and early 2024. As long as the Support Zone holds then, we will target 2.6000, which is below the 0.786 Fibonacci retracement level as well as the Lower Highs trend-line. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
GASOLINE Strong buy opportunity.Last time we looked into Gasoline (RB1!) was exactly 2 months ago (June 06, see chart below) and the price action gave us the most optimal buy opportunity on the 0.618 Fibonacci level and hit straight on our 2.6000 Target: Since then, Gasoline declined aggressive along with most of the energy sector and even broke below the 0.618 Fib on Monday. This however is technically the ideal long-term buy entry as not only the dominant pattern remains a 2-year Channel Down but also in symmetrical terms, it appears that the price action may be on similar levels as the June 23 2023 Low. As a result, we turn bullish on Gasoline again, targeting the Internal Lower Highs trend-line at 2.7500. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
1
GASOLINE Medium-term buy opportunityGasoline (RB1!) has been on a strong Bearish Leg ever since the April 12 High, which is a Lower High for the 2-year Channel Down, and even broke below the 1D MA200 (orange trend-line). Having already touched the 0.618 Fibonacci retracement level, we expect a medium-term rebound, similar to the one on May 04 2023. The rally not only hit and broke above the 1D MA50 (blue trend-line) but also extended as high as the 0.236 Fib. As a result, we consider the current level to have a solid R/R behind it and buy, targeting 2.600 (just below the 0.236 Fib). ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
GASOLINE Short-term buy. Sell at the right time.Gasoline (RB1!) is on a 3-day bullish 1D candle run after testing and holding the 1D MA50 (blue trend-line) this week for the first time since February 05. On the wider scale, this is the Bullish Leg of the 18-month Channel Down and it is approaching its top (Lower Highs trend-line). As you can see, the Bullish Legs of this pattern share a certain degree of symmetry, so as it happened on April 12 2023, we expect the new Lower High to be priced near the 1.236 Fibonacci extension. That will also touch the internal Higher Highs trend-line. The symmetrical 1D MACD Bullish Cross of March 27 2023, was a signal that the Bullish Leg will soon come to an end. As a result, on the 1.236 Fib we will turn bearish and target the bottom of the (dotted) Channel Up at 2.6000. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
GASOLINE Sell signal approachingGasoline (RBOB1!) is staging a short-term rebound towards the top of the (dotted) Channel Up ahead of a 1D Golden Cross. The 18-month pattern is a Channel Down and last time we saw those technical dynamics was during the previous Bullish Wave/ Channel Up that peaked on the 1.236 Fibonacci extension (April 12 2023) exactly on the Golden Cross and then corrected below the (dotted) Channel Up. As a result, we are starting to take a bearish stance on Gasoline, targeting 2.400 (bottom of the Channel Up). ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Short
by TradingShot
GASOLINE Buy signal if 1D MA50 breaks.Gasoline (RB1!) has had a strong 3-day rise last week but that is still contained within the bearish barriers of a Channel Down. However during this whole pattern, the 1D RSI has been developing a Channel Up, hence a Bullish Divergence for the price. As a result, we will look to the 1D MA50 (blue trend-line) for a break-out signal and if the price closes a 1D candle above it, we will buy and target the 1D MA200 (orange trend-line) with an early target projection at 2.4250 (but of course this can move depending on its course). Technically, we can even see the rise extending to +30.00% from the bottom or even slightly higher, as the two major bullish runs of 2023 have risen by +34.60% and +32.60% respectively. ------------------------------------------------------------------------------- ** 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. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYMEX:RB1!Long
by TradingShot
2
GASOLINE futures fall to 5-week low on low demand,high inventoryGasoline futures have dropped to a five-week low of $2.6 per gallon, primarily due to an unexpected increase in inventory and a decline in demand. Recent data from the Energy Information Administration (EIA) indicates a decrease in gas demand from 8.936 million to 8.519 million b/d last week. Moreover, the total domestic gasoline stock has increased by 1.3 million bbl, while markets had anticipated a draw of 1.267 million. Additionally, WTI crude prices have been falling since hitting a five-month high in April, amid concerns that a slowdown in global growth could dampen fuel demand. Furthermore, OPEC+ has announced a surprising reduction of output by 1.6 million barrels per day for the remainder of 2023, which may further impact fuel prices. From a technical standpoint, the current price is within a bearish flag on a short continuation pattern. The next potential support area is at $2.0 If the price breaks the dynamic trendline of the channel, we may witness a further drop in gasoline prices.
NYMEX:RB1!Short
by FOREXN1
9
GASOLINE Head and Shoulders likely to turn long-term bearishGasoline (RB1!) has been rising since the March 2020 bottom on a straight Channel until late February 2022 where war and inflation worries turned it parabolic as illustrated by the use of the Fibonacci Channel extensions. Following the June 06 market top, a Head and Shoulders (H&S) pattern was formed that hit (and so far rebounded on) the 1D MA200 (orange trend-line), a level touched for the first time since December 23 2021. A break below the Support, should target the lower extension of the 1D MA300 (green trend-line), if not a retest of the Shoulder Resistance and potentially rejection on the 1D MA50 (blue trend-line) would initiate the 1D MA300 drop. This trend-line has been Gasoline's Support since December 08 2020. This however may be the perfect opportunity to break it finally as the H&S pattern typically end such parabolas in fashion to at least the 0.618 Fibonacci Retracement level. Interestingly enough, that happens to be currently on the 1W MA200 (red trend-line). -------------------------------------------------------------------------------------------------------- Please like, subscribe and share your ideas and charts with the community! --------------------------------------------------------------------------------------------------------
NYMEX:RB1!Short
by TradingShot
1
GASOLINE Buy the dip for the next 2 monthsGasoline (RB1!) has been supported by the 1D MA50 (blue trend-line) since January 2022 and after the most recent contact with the trend-line (April 07 2022), it has been on a strong rise. This shouldn't surprise us as the 1D RSI has been printing the same pattern as the March - June 2021 period, when Gasoline formed a Channel Up supported by the 1D MA50. This suggests that every dip towards the Support should be bought until at least the end of July. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
NYMEX:RB1!Long
by TradingShot
4