NY Harbor ULSD Crack Spread Update

The HOCL crack spread has narrowed after forming a double top at $27.26. A close below the $18.887 swing low would confirm the pattern. KaseX also indicates the spread should narrow. However, the move may be corrective. Crucial support at $22.38 is the 62 percent retracement from $18.887 and the 38 percent retracement from $14.987. A close below $22.38 would call for $19.5; the last level protecting $18.887. Resistance at $25.6 is key. A sustained close over this would open the way for $31.14 and higher.

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HOCL


Published by

Dean Rogers

Dean Rogers is the general manager of the Kase Call Center in Albuquerque, New Mexico. He oversees all of Kase and Company, Inc.’s operations including research and development, marketing, and client support. Dean began his career with Kase in early 2001 as a programmer, but has developed into Kase’s senior technical analyst. He writes Kase’s award winning weekly Crude Oil and Natural Gas Commentaries. He is an instructor at Kase's classes and webinars and provides all of the necessary training and support for Kase's hedging models and trading indicators for both retail and institutional traders.

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