Gasoline RBOB Futures Generate Fresh Buy Signal

Trading commodity futures and options 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.

Gasoline RBOB future rallied today (2/16) for a second consecutive trading session.

This move higher for the March contract of gasoline RBOB futures gives me a fresh buy signal on the daily chart.  This is the seventh buy signal gasoline has given on the daily chart since the trend changed to the upside at the end of December.  Today's buy signal comes after five trading sessions of sideways price action.  Gasoline RBOB gave a buy signal last week on the weekly chart.  If RBOB can close above 306 ½ this month it'll suggest a buy signal on the monthly chart.

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Futures, options and forex trading is speculative in nature and involves substantial risk of loss. All known news and events have already been factored into the price of the underlying commodities discussed.