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TFC Commodity Trading Forum

Re: Trades,RBOB/Artie *LINK*
In Response To: Trades,RBOB ()

Here is the Sept RBOB Contract. Same idea with the double top. Note the RSI 21 showing the circled overbought levels at tops and oversold levels at bottoms. It's a good indicator for this overall. No holy grail but use it on a variety of markets to see it's consistency. It works great on some markets depending on a market's volatility and beta. They are all different. That is why you need to look at charts that go back 1 to 2 years to see what works and what doesn't 'most of the time'. Then look at shorter term time frames. Overall Gasoline is in a trading range and has been for a long time now.