RBOB Gasoline Crack Spread Poised to Narrow

The RBOB gasoline crack spread widened to $25.64 on Monday and could test $27.77 before narrowing again. Resistance near this level is expected to hold and the crack is poised to narrow now that the 0.618 projection of the wave down from $33.80 was met. We would look to short the crack spread soon because KaseX generated a filtered sell signal on June 25th. The key target at $19.00 is the 1.00 projection and the top of the gap that took place on February 23rd.

crack spread

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Published by

Dean Rogers, CMT

Dean Rogers, CMT 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, Natural Gas, and Metals 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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