• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 2 hours Sources confirm Trump to sign two new Executive orders.
  • 10 hours CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 4 hours In a Nutshell...
  • 2 hours No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 23 hours Why Wind is pitiful for most regions on earth
  • 10 hours A Real Reality Check on "Green Hydrogen"
  • 1 day Why Oil could hit $100
  • 10 hours Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 1 day During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 4 mins Sometimes I Think Trump Supporters on This Forum Are Russians
  • 10 hours Putin Paid Militants to Kill US Troops
  • 1 hour Where is Alberta, Canada headed?
  • 3 days Coronavirus hype biggest political hoax in history
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

Premium Content

RBOB Price Activity Suggests a Real Correction is Underway

For the last 5 days RBOB prices have dropped, depreciating approximately 15 cents/gallon. With prices now under the 8, 18 and 50 day MA’s I think we finally have a real correction under way. There have been a few head fakes in recent weeks but this could be the correction forecast in recent weeks. Support is seen about 5 cents below today’s low but this being the third attempt at that level I suspect we see a trade under the 100 day MA in the coming weeks. That pivot point is identified by the light blue line and prices have been above that level since early August.

RBOB Prices

My stance is the entire energy complex could trade lower in the coming weeks. On a 50% Fibonacci retracement which would drag prices 20 cents from current prices we would start to see some relief at the pump with prices well over $4/gallon for months now. Coincidence or not having relief in energy prices right around the election?

To discuss in more detail this chart or any other you can reach me at:

mbradbard@rcmam.com or 954-929-9997

Risk Disclaimer: The opinions contained herein are for general information only and are not intended to provide specific investment advice or recommendations and are not tailored to any specific’s investor’s needs or investment goals.  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 of your initial investment. Opinions, market data, and recommendations are subject to change without notice.  Past performance is not necessarily indicative of future results.


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




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