GASOLINE IS ON A DOWN TREND WHICH IS YOUR FRIEND FOR NOW Please share with me your point of view,
Regards.
Gasolinelong
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
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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
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GASOLINE FUTURES (RB1!) DailyDates in the future with the highest probability for price direction reversals
RISING CHANNEL IN GASOLINE (TRAILS CRUDE OIL)No long explanation here, a rising channel in gasoline which will break to the downside so we are not yet cleared for bull trend just yet, same goes for crude oil as gasoline market trails crude, though sometimes ahead of crude in movement.
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Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders.
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