RBOB GASOLINE ONLY0124

RB0124

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Futures
Ticker:	RB0124
ISIN:	RBF4

RBOB GASOLINE ONLY0124 - Weekly - Technical analysis published on 10/14/2023 (GMT)

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Timeframe : Weekly
- Analysis generated on
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RBOB GASOLINE ONLY0124 Chart

Summary of the analysis

Trends

Short term: Neutral

Underlying: Bullish

Technical indicators

22%

50%

28%

My opinion

Bullish above 2.1735 USD

My targets

2.3207 USD (+3.30%)

2.5739 USD (+14.57%)

My analysis

We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on RBOB GASOLINE ONLY0124. As long as you are above the support located at 2.1735 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 2.3207 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 2.5739 USD as an objective. If the support 2.1735 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.

In the very short term, the general bullish sentiment is not called into question, despite technical indicators being indecisive.

Force

2.3

Comment on the analysis

Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.

This analysis was given by julian2023.

Additional analysis

Quotes

The RBOB GASOLINE ONLY0124 price is 2.2465 USD. The price registered an increase of +4.62% over 5 days and has been traded over the last 5 days between 2.1359 USD and 2.2492 USD. This implies that the 5 day price is +5.18% from its lowest point and -0.12% from its highest point.

2.1359

2.2492

2.2465

A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.

Bullish opening

Type : Bullish

Timeframe : Openning

Here is a more detailed summary of the historical variations registered by RBOB GASOLINE ONLY0124:

The study of the highest / lowest by the Central Records scanner shows the following result:

Near a new LOW record (1 month)

Type : Bearish

Timeframe : Weekly

The Central Volumes scanner notes the presence of abnormal volumes:

Abnormal volumes

Timeframe : 5 days

Abnormal volumes

Timeframe : 20 days

Abnormal volumes

Timeframe : 50 days

Technical

Technical analysis of this Weekly chart of RBOB GASOLINE ONLY0124 indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting several bearish and bullish signals that could impact this trend:

Bearish trend reversal : adaptative moving average 20

Type : Bearish

Timeframe : Weekly

Bullish price crossover with Moving Average 50

Type : Bullish

Timeframe : Weekly

Bullish price crossover with Moving Average 100

Type : Bullish

Timeframe : Weekly

Bullish price crossover with adaptative moving average 50

Type : Bullish

Timeframe : Weekly

Bullish price crossover with adaptative moving average 100

Type : Bullish

Timeframe : Weekly

An assessment of technical indicators does not currently provide any relevant information to suggest whether the signal given by the technical indicators is more bullish or bearish.
Central Indicators, the detector scanner for these technical indicators recently detected a signal:

Price is back over the pivot point

Type : Bullish

Timeframe : Weekly

Central Patterns, the scanner specializing in chart patterns, did not identify any signals.

The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:

Bullish harami

Type : Bullish

Timeframe : Weekly

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2
ProTrendLines	1.6999	1.9951	2.1735	2.2465	2.3207	2.5739
Change (%)	-24.33%	-11.19%	-3.25%	-	+3.30%	+14.57%
Change	-0.5466	-0.2514	-0.0730	-	+0.0742	+0.3274
Level	Minor	Major	Major	-	Major	Major

Attention could also be paid to pivot points to set price objectives:

Daily

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.0554	2.0957	2.1198	2.1601	2.1842	2.2245	2.2486
Camarilla	2.1263	2.1322	2.1381	2.1440	2.1499	2.1558	2.1617
Woodie	2.0474	2.0917	2.1118	2.1561	2.1762	2.2205	2.2406
Fibonacci	2.0957	2.1203	2.1355	2.1601	2.1847	2.1999	2.2245

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	1.8225	1.9719	2.0596	2.2090	2.2967	2.4461	2.5338
Camarilla	2.0822	2.1039	2.1257	2.1474	2.1691	2.1909	2.2126
Woodie	1.7918	1.9565	2.0289	2.1936	2.2660	2.4307	2.5031
Fibonacci	1.9719	2.0624	2.1184	2.2090	2.2995	2.3555	2.4461

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	2.0053	2.1622	2.2429	2.3998	2.4805	2.6374	2.7181
Camarilla	2.2584	2.2801	2.3019	2.3237	2.3455	2.3673	2.3890
Woodie	1.9673	2.1432	2.2049	2.3808	2.4425	2.6184	2.6801
Fibonacci	2.1622	2.2529	2.3090	2.3998	2.4905	2.5466	2.6374

Numerical data

The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:

Technical indicators

Moving averages

RSI (14):	48.64
MACD (12,26,9):	0.0391
Directional Movement:	-7.6518
AROON (14):	71.4286
DEMA (21):	2.3434
Parabolic SAR (0,02-0,02-0,2):	2.5479
Elder Ray (13):	-0.1175
Super Trend (3,10):	2.5591
Zig ZAG (10):	2.2447
VORTEX (21):	1.0349
Stochastique (14,3,5):	35.39
TEMA (21):	2.3627
Williams %R (14):	-71.64
Chande Momentum Oscillator (20):	-0.0501
Repulse (5,40,3):	-5.6631
ROCnROLL:	-1
TRIX (15,9):	0.3538
Courbe Coppock:	18.77

MA7:	2.1822
MA20:	2.3197
MA50:	2.3676
MA100:	2.2628
MAexp7:	2.3086
MAexp20:	2.2892
MAexp50:	2.2308
MAexp100:	2.1146
Price / MA7:	+2.95%
Price / MA20:	-3.16%
Price / MA50:	-5.11%
Price / MA100:	-0.72%
Price / MAexp7:	-2.69%
Price / MAexp20:	-1.87%
Price / MAexp50:	+0.70%
Price / MAexp100:	+6.24%

Quotes : - 10 min delayed data - NYMEX Futures

This member declared not having a position on this financial instrument or a related financial instrument.

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