Brent came down exactly as expected yesterday with EIA results not giving much reason for further increase.Formed a wedge during teh fall, expect price to retrace to around 72.3 today. nice quick opportunity there.
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Gasoline seems to be topping out. I was surprised that it exceeded the previous high actually.Moomentum is slowing down, MACD and RSI showing divgernces with the price.Expect price to retrace down by about 61% of the up move.Target = 2.11
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You will see on my chart, the U.S 10 year bond yields chart forms wedges very regularly, and in most cases they work.A new wedge is about to finish completing which will cause a upward reversal to around 61% FIB retracement.
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