Gasoline: Consolidation on the weekly chart

The January gasoline contract on the weekly chart has been going sideways, coinciding with the current consolidation on crude oil. If during the next month the price breaks to the upside above the resistance around the 1.5040 level, then gasoline may try to go and visit its 55 week exponential moving average (purple line), around the 1.7461 level, which could act as its next resistance. Regardless of the current consolidation, the price keeps a slight bearish slope, therefore it could also try to break below the 1.2021 level. If it does break below the 1.2021 level, then the 1.1000 level may act as its next support.