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Gasoline Futures RB falling hard
probable failure of 20 week cycle ... AGAIN
The last time a 20 week cycle failed on RB futures very quickly, was August of last year.
Traders just turn bearish very quickly on gas futures. Its the way it is.
Peaks are prominent, however, the price action must be followed by an experienced trader in this market, like Natural gas, its volatile and cycles are very stretched and contracted, OFTEN.
So, not for the faint of heart or traders that cant be wrong and decipher when to cut their losses and traders that dont reenter, traders that cant monitor for days or weeks, etc.
Its just a difficult market to predict.
However, if this latest failure is a failure of the 20 week cycle and prices are to move down through 2.00 this next month, there has to be continued volume down into next week. Without that, its due to be very erratic when shorting into quarterly support.
Cyclitecnical analysis finds that this instrument is waiting for additional guidance as it trades between a range of 2.00 and 3.00 but has the following targets outstanding:
smaller cyclical projection:
larger cyclical projection:
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