Tuesday, November 17, 2015

Gasoline continues falling

The gasoline contract for December continues falling and it is currently consolidating just below the 55 period exponential moving average on the one hour chart (purple line), after it made a low for today around the 1.2021. Besides the 55 hour exponential moving average, the 1.2545 level has been acting as a good resistance, but a breakout of that level could cause the price of gasoline to retrace to the upside towards the 200 hour exponential moving average (blue line), around the 1.3018 level. To the downside, the 1.2021 level may continue acting as a support.


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10 comments:

  1. UnknownNov 17, 2015, 4:07:00 PM

    Important information, will keep it in mind!

    ReplyDelete
  2. UnknownNov 17, 2015, 6:21:00 PM

    Thank you for the analysis.

    ReplyDelete
  3. UnknownNov 18, 2015, 5:06:00 AM

    Its really going sideways.

    ReplyDelete
  4. UnknownNov 18, 2015, 9:54:00 AM

    It began moving to the upside again.

    ReplyDelete
  5. UnknownNov 18, 2015, 10:50:00 AM

    United States EIA Crude Oil Stocks change came in at 0.25M below forecasts (1.6M) which add more pressure to the upside.

    ReplyDelete
  6. RozenNov 18, 2015, 3:14:00 PM

    Good article.

    ReplyDelete
  7. UnknownNov 18, 2015, 4:22:00 PM

    Great analysis! Congratulations.

    ReplyDelete
  8. UnknownNov 19, 2015, 8:57:00 AM

    Thanks for the analysis, I will keep eye on it.

    ReplyDelete
  9. UnknownNov 19, 2015, 1:32:00 PM

    Very useful post.

    ReplyDelete
  10. UnknownNov 22, 2015, 6:31:00 AM

    Great analysis, thank you for sharing.

    ReplyDelete

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