Diesel prices
Diupdate
Retail Diesel – Monthly: Currently resting at monthly support of 5.31. (Ichimoku indicator not shown) Daily and weekly swings above and below the blue Tenkan line should be expected. A monthly close below could open the door to the red Kijun line at 4.09. This would be very strong support on a monthly scale.
There was a 5 leg event from the 02’ low to the 08’ high. Leg 1 climbed 80% in under 2 years. The 3rd leg high climbed 230% higher in over 6.5 years. The 5th leg high climbed 390% off the 02 lows in just over 9 years.
The 16’ low to the 18’ high (Leg 1) climbed 75% in under 3 years. The current (3rd leg) high climbed 190% off the 16’ lows in under 6.5 years. If Diesel can break the trendline above $6.00, historically speaking $9.00+ diesel is not out of the equation…
Price risk on higher diesel is warranted. What broke the last strong run higher was the great 08’ recession…
There was a 5 leg event from the 02’ low to the 08’ high. Leg 1 climbed 80% in under 2 years. The 3rd leg high climbed 230% higher in over 6.5 years. The 5th leg high climbed 390% off the 02 lows in just over 9 years.
The 16’ low to the 18’ high (Leg 1) climbed 75% in under 3 years. The current (3rd leg) high climbed 190% off the 16’ lows in under 6.5 years. If Diesel can break the trendline above $6.00, historically speaking $9.00+ diesel is not out of the equation…
Price risk on higher diesel is warranted. What broke the last strong run higher was the great 08’ recession…
Trade aktif
I really hope this analysis is very wrong going forward from here
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.