GASOLINE IS ON A DOWN TREND WHICH IS YOUR FRIEND FOR NOW Please share with me your point of view,
Regards.
Gasoline
Long $SGG Sugar ETF at 33.50 or 10.30 #Sugar Futures Spot PriceSugar and Brazil Relationship:
Since Brazil has been the leading producer of sugarcane in the world, the value of the Brazilian Real plays a significant role in the price of sugar futures. Weakness in the Brazilian Real against the US Dollar encourages Brazil's sugar producers to boost exports. The logic is that a lower Brazilian Real incentivizes Brazilian farmers to produce more sugar to export sell for US Dollars. However, it's likely that the Brazil Real will appreciate against U.S Dollar over the next couple months based on technical analysis and possible economic intervention from the Brazilian Government.
- U.S. Dollar/Brazil Real pairing or BRB index showing many downside trend change signals here such as bearish RSI divergence since early March on Daily chart. Weekly chart showing RSI and MACD curling down from record highs with Momentum also curling down but after a double test of highs
Growing Ethanol Demand:
In July 2019, India announced they will work with Brazil on ethanol production. Using more cane in India to produce ethanol, instead of sugar, could reduce the global supply of the sweetener. 32M sugarcane could be used to produce ethanol and electricity instead of sugar in the next year. The joint venture, named BP Bunge Bioenergia, will manage 11 cane processing plants in Brazil with capacity to crush 32 million tonnes of cane per year
- Higher crude oil/gasoline prices benefit ethanol prices and may prompt Brazil's sugar mills to divert more cane crushing toward ethanol production rather than sugar production.
- India and many other countries are boosting ethanol output for sanitisers on coronavirus pandemic
Supply Curbs:
In July 2019, India, the second largest producer of sugarcane, announced they will create a buffer stock of 4 million MT of sugar for 1-year starting Aug 1 in an attempt to limit supply and support domestic sugar prices. Also, further supply disruptions are expected in India due to Coronavirus Lockdown.
- The Indian Sugar Mills Association (ISMA) reported Wednesday that sugar production in India dropped sharply by -22% y/y to 23.27 MMT during Oct-Mar
- Sugar production in Thailand, the third largest producer of sugarcane, is expected to fall 28% to a nine-year low of 10.5 million tonnes in the current crop season as drought curtails cane supplies
India Sugar Subsidies:
In August 2019, Brazil, Australia and Guatemala have complained again to the WTO to set up dispute panels to rule on India’s sugar subsidies.
- A change in WTO trade dispute status to Panel Composed on October 28th supports the global price of sugar. This news catalyst increases the possibility of removal of India sugar subsidies. If removed, India sugar stockpiles could fall thus decreasing global supply. Now in April 2020, we can assume the dispute must be in the further into review process
Real-Time CashFlo Twitter Post:
twitter.com
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
CRUDE OIL (WTI) SHORT I'm in short right now👇🏽📈this will drop. long term it will drop. phase 2 will ensure this. I would buy as low as possible. to risky to buy during a pandemic. Until there is a Vaccine i will short on price rise. Thanks mates and enjoy and like and feel free to leave a comment.
EIA Data Shows Cuts in Both Crude & Gasoline InventoriesHeadlines:
- EIA Data Shows Cuts in Both Crude & Gasoline Inventories
- Gasoline Futures Return to 0.85 Handle as Prices Fall -7%
- US Indexes Fall Along with Energy Sector Down -4%
Gasoline - good mid. term investmentWith the fall of quarantine, road traffic is back and demand is rising accordingly, and gasoline prices are recovering.
Less manipulations than the Oil market, much safer trade instrument and good ROI. #Gasoline #RBOB
Gasoline Futures See 0.7250 Resistance Level as Prices Retrace- Gasoline has paired some gains heading into the new week with it falling down to the 0.6570 level as we near the London open.
- Much of the pressure in lower prices has been due to the ongoing demand issues we are seeing within the United States, however, we have seen prices in recent week pick up from lows around mid-0.40 level.
- As of this week, however, we have seen prices retrace lower after touching a key level of resistance around the 0.7250 level.
API Shows Gasoline Inventory Increase of 2.226 Million BarrelsAPI Release this week has shown a gain up for the week with Gasoline posting a build of 2.226 million barrels
Gasoline Futures Approaching 0.725 Price Handle- Gasoline is now approaching the important 0.725 price handle once again
- This level has been seen in the past as a level of strong price resistance
Gasoline Bounces of 0.625 handle Seeing it Push Above 0.70 Level- Gasoline Bounces of 0.6250 handle
- OPEC+ Meetings scheduled for Thursday which could see volatility role into Gasoline markets
- Gasoline dropped to the beginning of the year due to falling demand within the US region
Gasoline Surges Above 0.60 Level Posting +12% Gain in AsiaHeadlines
• Gasoline Surges Above 0.60 Level Posting +12% Gain in Asia
• Petrobras to Cut Production & Reduce Capital Expenditures in a Bid to Off-Set Virus Impacts
• US Futures Retreat in Asia Breaking Weeks Uptrend
Gasoline Continues Down -31% on Monday Close as Demand FallsHeadlines
• Further Oil & Gas Companies Announce Expenditure Cuts with TOTAL Set to Cut into the Year
• Gasoline Continues Its Plummet Down -31% on Monday Close
• UK Closes Non-Essential Business as Countries Go into Quarantine to Slow Spreads
Gasoline Sheds Further Seeing It Drop -9.64% Monday OpenHeadlines
• Gasoline Sheds Further Seeing It Drop -9.64% Monday Open
• China Releases Industrial Production Data Showing Drop of a Staggering -13.5%
• US Futures Fall Ahead of Open as Fed Cuts Interest Rates Close to Zero
Gasoline Plummets Along with Crude as Markets See Huge SellingHeadlines:
• Gasoline Plummets Along with Crude as Markets See Huge Selling
• Futures in Asia Prepare for the Worst as They Plummet Heading into the Session
• EU and US Markets Plunge as Investors Flee
GASOLINE FUTURES (RB1!) DailyDates in the future with the highest probability for price direction reversals
EIA Crude Stock Continues + Gasoline & Distillate Stock DropsHeadlines:
• EIA Crude Inventory See Stockpiles Continues Whilst Gasoline & Distillate Stock Drops
• Surging Indexes Spurred on by Stimulus Measures with S&P500 +4.22%
• Coronavirus Cases Slow Down in China Whilst See Rises in Italy & Iran
Gasoline Down + Oil Extends Losses in Asia With Crude DownHeadlines:
• Crude Extends its Losses in Asia With NYMEX Crude Down -3.16% + RBOB Gasoline Down -3.29%
• UN Secretary General Calls for Immediate Ceasefire After 33 Turkish Soldiers Killed in Idlib
• Asian Equities Feel Full Force of Sell Pressure with Nikkei225 Down -4.60%
RBOB Gasoline Falls as Global Fear Resonates Throughout MarketHeadlines:
• Light Crude Futures Fall Below $50pb as Global Fear Resonates Throughout Markets
• CDC Warns That They Could Expect Further Cases and to be Ready
• US Equities Continue Low Streak with Markets Down Another -3%
Crude Shrugs off Larger than Expected Build with Futures up +3%Headlines:
- Oil Futures shrugged off larger than expected EIA Build up +3%
- OPEC expects global demand to drop after release of monthly report showing revision down
- Gasoline & Heating Oil both push higher breaking away from weeks lows
