December RBOB Futures Update

December RBOB futures met confluent support at $2.0776, and prices have subsequently settled into a coil formation that should break lower. However, a KasePO PeakOut (green P), indicates the move down is oversold and due for a correction. A directional break out of the coil will help to clarify the near term direction. Upon a break lower, look for $2.041 and then $1.915. Should the upward correction extend, watch for resistance at $2.240 and $2.368. The latter is expected to hold.

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The Kase Commentaries on Crude Oil and on Natural Gas provide highly accurate weekly near term market outlooks. Kase’s analysis has proven to be remarkably accurate in identifying critical market turning points and probable market behavior.nnThe Commentary is highly technical, but interactive, so readers can click on unique words and phrases for definition to help them better understand the analysis. This is a great stand-alone product, but also works well as a companion product for Kase StatWare, KaseX or any of Kase’s Hedging Models.nnKase offers a free trial period for the Commentary so contact us today!

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