• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 19 hours IMO 2020 could create fierce competition for scarce water resources
  • 4 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 2 mins Total nonsense in climate debate
  • 1 day IMO2020 To scrub or not to scrub
  • 14 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 5 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 9 hours Theresa May to Step Down
  • 1 day Devastating Sanctions: Iran and Venezuela hurting
  • 24 mins Will Canada drop Liberals, vote in Conservatives?
  • 41 mins Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 1 day Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 1 day Level-Headed Analysis of the Future of U.S. Shale Oil Industry
  • 48 mins Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Matthew Bradbard

Matthew Bradbard

I have over 1 decade of experience in the Commodities industry. Managing my own IB for over 5 years and my own CTA for fifteen…

More Info

Trending Discussions

RBOB Market Update for 15.07.13: The Coming Sticker Shock

September RBOB has appreciated 13% in the last three weeks lifting prices to fresh intra-day highs in Friday’s session trading above the February highs. I see this move in the 9th inning and expect a retracement in the immediate future. This goes hand in hand with my prediction of a trade lower in WTI in the coming weeks.
 
In February after peaking out just above $3.06/gallon futures traded lower 9 consecutive session retracing 50% dropping just better than 20 cents within that time frame. Past performance is not indicative of future results. 
 
RBOB Price Chart
Click to enlarge.
 
I’m operating under the influence that prices are very close to establishing an interim top. I suggest using the Fibonacci levels (white jagged lines) as trading objectives as we start depreciating in the coming weeks. A settlement below the 8 day MA (orange line) which is a dime off current trade would be the first confirmation that lower trade is likely.
 
I am not looking for a collapse and expect prices to be range bound for several months moving forward. The approach is to attempt bearish trade at the upper end of the range and bullish trade near the lower end of the range. As seen on the chart below the EIA does not look for any significant appreciation of deprecation in RBOB either as their projections do not have prices wandering too far from current levels. 
 
Gasoline Retail Price in US

By. Matthew Bradbard

Risk Disclaimer: This information is not to be construed as an offer to sell or a solicitation or an offer to buy the commodities and/ or financial products herein named. The factual information of this report has been obtained from sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed to be accurate. You should fully understand the risks associated with trading futures, options and retail off-exchange foreign currency transactions (“Forex”) before making any trades. Trading futures, options, and Forex involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more than your initial investment. Opinions, market data, and recommendations are subject to change without notice. Past performance is not necessarily indicative of future results. This report contains research as defined in applicable CFTC regulations. Both RCM Asset Management and the research analyst may have positions in the financial products discussed.




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News