2 Warning Signs On Gasoline

United States Gasoline Fund (UGA) has celebrated valentine in February this year by rewarding the bulls with over 400% increase since 2009. Now UGA is forming a 1 year H&S Top, with 53.35 as the neck line. UGA has also been sitting comfortably on a 4 year trend line. These are warning signs, watch closely for a double bearish punch down if the H&S breaks down and the trend line does not hold. The implied target for the H&S Top is 44.

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UGA Weekly

UGA Weekly

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2 Comments on “2 Warning Signs On Gasoline”

  1. bouraq says:

    Great post. Also led me to question my bullish outlook on oil. Thanks a lot Chartist.


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