Gasoline (RB1!) has been trading within a 3-year Channel Down and is currently on the latest Bullish Leg that is about to test the 1W MA50 (blue trend-line). All previous Bullish Legs have hit at least the 0.618 Fibonacci retracement level and the 1W MA100 (green trend-line) at the same time.
As a result, we expect this Bullish Leg to continue rising towards the 1W MA100 - 0.618 Fib, targeting 2.0845. If the 1W RSI hits its 60.20 Resistance though first, it will be a signal to sell regardless of the price.
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As a result, we expect this Bullish Leg to continue rising towards the 1W MA100 - 0.618 Fib, targeting 2.0845. If the 1W RSI hits its 60.20 Resistance though first, it will be a signal to sell regardless of the price.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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For Crypto trading I use WhiteBIT: low fees, deep liquidity & advanced futures 👉 tradingshot.short.gy/WhiteBitTrade
For Forex trading I use TradeNation: fixed spreads & zero commissions 👉 tradingshot.short.gy/Tradenation
For Forex trading I use TradeNation: fixed spreads & zero commissions 👉 tradingshot.short.gy/Tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.