RBOB peaked in mid Feb and seems ready for a reversal. If the 20MA acts as resistance the price is poised to fall to 2.92-2.90 area quite quickly. 3.09 sell seems a good entry point. 2.00 Gain/risk ratio.
Comments
ozatrading
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u still holding it? JR? leones?
LEONES
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yes, today seems a good sign, the long term triangle is acting as resistance
LEONES
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sorry i was talking about copper...but yes seems RBOB is going to fall again
ozatrading
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yeah..i am copper short..thinking to get gasoline...but the refinery spiky news are not favoring my decision. r u in it?
LEONES
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yes i'm in copper, bit late to enter in the gasoline now
QuantitativeExhaustion
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Gas is also a good one to measure how both the economy and the markets are doing. Thanks for the updates
QuantitativeExhaustion
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Gas held up well over night. Doji candle stalemate inside triangle again
LEONES
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should drop now
QuantitativeExhaustion
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Should have paid the higher premium yesterday. Put Sellers would not budge. Kicking myself now.
QuantitativeExhaustion
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Excellent Call.. Missed my entry by a hiar. This was a big move.