Technical Forecast for RBOB
RBOB Gasoline unexpectedly broke 295/296 but has halted below 299/300 & the next selling opportunity. We are getting overbought short term so there is a risk of a drift lower. However stopson shorts needed above 301 for 303.35.
A drift lower to support at 296.25/00 is possible & this could hold the downside. However on a break lower look for 295.00, possibly 293.25/00 for a buying opportunity here.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.