Refined Products May Be At Highs For The Fall

On September 24, 2012 by TradingDesk

Market UpdateEquities and commodities across the globe are slipping this morning, following a weak Euro lower on news that France and Germany are disagreeing on how to handle EU bailouts. Weak economic readings from China and Germany are also adding to the negative sentiment.

Refined product futures are back in the middle of their September trading range, with little direction indicated by the charts. We are in the fall peaking window for prices, and if RBOB fails to get back above resistance at $3.00, and $3.20 for HO, we may have already seen our highs for the fall and would expect a drop in the range of 20% through the winter.

CLICK HERE for a PDF of this morning’s charts

 

 

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