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ChartArtist (< 20)

2 Warning Signs On Gasoline



October 05, 2013 – Comments (0) | RELATED TICKERS: UGA

United States Gasoline Fund (UGA) has celebrated valentine in February this year by rewarding the bulls with over 400% increase since 2009. Now UGA is forming a 1 year H&S Top, with 53.35 as the neck line. UGA has also been sitting comfortably on a 4 year trend line. These are warning signs, watch closely for a double bearish punch down if the H&S breaks down and the trend line does not hold. The implied target for the H&S Top is 44.

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