Interpreting market movements in a whole new way
Interpreting market movements in a whole new way
Crude oil has been messing up traders who see every pullback as a chance to sell. So has gasoline and both these futures contracts have now rolled to a brand new front-month of Jan'21. Yesterday Gasoline [or RBOB as most like to call it] pulled back alongside WTI Crude futures and held the 1.1250 area nicely. In this move measured from a weekly low [after the December'20 to January'21 contract roll] to the overnight high from earlier today at 1.1799, we see us potentially moving to 1.1930 area relatively soon as depicted in the chart below. Our own trade has a long we've taken from the trade idea shown below and are trading it now with an active trailing stop.
Trade idea
Chart
