THU1! trade ideas
RBOB - RBZ2020AS YOU SEE, THIS IS QUITE IMPORTANT LINE, LETS SEE WHAT IT WILL DO
THERE IS STILL SOME SPACE BELOW TO BE TESTED, ALTHOUGH CURRENT MACRO FUNDAMENTALS ASKING FOR RISE, SEASONALS ARE SAYING OTHERWISE
I HAVE BEARISH BIAS TOWARD THAT
RB - Gasoline futures - Elliottwave analysis Gasoline futures - It is in B wave and probably do a flat correction. Stay bullish once it finished within the zone of 1.065-1.034 with stops level below 0.971 for target above 1.16 or higher.
Give thumbs up if you really like the trade idea.
Gasoline futures RB1! - Elliott wave analysis Gasoline futures (RB1!) - It has completed ABC zigzag down correction. The up move was impulse wave A and it seems like correcting down in wave B. This is the buy set up when B wave will finish near 1.034-1.008 for C wave up for target zone above 1.147 or higher. In 4 hr time frame this may the part of bigger (C) wave up from major bottom (Covid low). The pattern will be invalidated if price drop below 0.970 level.
Give thumbs up if you really like the trade idea.
Gasoline futures RB1! - Elliott wave analysis - Bear caseGasoline futures (RB1!) - It is in ABC zigzag down and C wave down is in progress. Sell with stops above 1.1468 for 3rd of 3rd wave down, which probably finishes near 1.0624 or lower.
Give thumbs up if you really like the trade idea.
RB1 is giving signal and strong momentum to buyAdvice from me. Don't put stop loss and take profit. Use alert
GASOLINE IS ON A DOWN TREND WHICH IS YOUR FRIEND FOR NOW Please share with me your point of view,
Regards.
Inter-commodity Spread (Dec20 +RB -CL)Looks like a good opportunity is coming up on this one. Fading the Dec20 RB(buy) CL(sell) Combo IC spread by selling into strength seems reasonable.
Gas future recovery lost all momentum, 200 SMA resistance?Hello Traders!
The price of Gasoline Futures has recently returned to its normal range but the momentum of its recovery seems to be completely used up. The 50 SMA may have recently crossed over the 100 SMA, but both the MACD as well as the RSI look rather pessimistic, both indicating bearish divergence. I would be very surprised if the price crossed over the 200 SMA, which has acted as resistance in the past, but let's better wait for the next few candles before we trade on weak signals.
VF Investment cannot be held responsible for any financial damages suffered from following our well-funded but personal opinions and trading ideas.
Please, maintain proper position sizing and risk management!
COT INDEX - POSSIBLE BOTTOMThe timing of commercials players trading Gasoline RBOB can be described as superb, with just one wrong signal since 2007. The COT Index possible bottom signal triggered this week, but before we jump in the trade there are some considerations of the actual scenario that need to be taken into account during our decision to take or not the trade.
I just read two articles one from the eternal bear ZeroHedge and another one from WSJ, and while 99.99% of traders and analysts would believe this is super bearish Oil. Such interpretation in the vacuum can lead to inaccurate conclusions. OPEC made a huge move with a record production cut to offset the demand destruction, and this can happen again. The ease in oil cuts is because they are anticipating demand recovery. This is the point where the confusion is made. There is a HUGE difference between demand and consumption. The former refers to the amount of a good that will be used at any given price level, and with supply determines the price, while the latter is the amount of a good used and its determined by the price.
An increase in demand means that more will be consumed at any given price level. Factors that might affect demand include disposable income, consumer tastes, and the price of substitute goods but, by definition not price. (Schwager & Etzkorn, 2017)
So the increase in production does not mean more of the product will flood the markets and pressure price down. The expectation is more consumption is ahead of us.
Another mistake that I see when taking this event of the increase in the output in production as bearish is the lack of perspective. What we saw months ago as a RECORD production cut, this increase is a drop in a bucket and has all elements to get unnoticed by the markets, in fact, it can have the opposite effect because it’s adding positive expectations of world economies recovery.
I am holding a BULLISH view on Gasoline RBOB.
Assets with BIG correlation with GASOLINE
Apache Corp NASDAQ:APA
Platinum NYMEX-PL1!
Avnet, Inc. NASDAQ:AVT
Precision Drilling Corp NYSE:PDS
Read the Full Report
RB1! bounce of support lineConfirmation candle shows repeating uptrend. Momentum is at the lowest point.
P:L , 2:1
$RB -GASOLINE looking for the gap to fillCovid energy collapse now seeing a big rebound. Still got a long way go to see this Outcome eventuate. Gaps like this are made to be filled.
Gasoline futures (RB) - Updated EW count Gasoline futures (RB) is in correction ABC from the top as zigzag, which is in the 5th wave of C down as shown in chart.
Gasoline futures (RB1! ) - Updated EW count Gasoline futures (RB) has completed its 5th wave of the impulse sequence as shown in chart, which matches with crude oil count, unless it unfold in further extension.
