Gasoline: Another Leg Up?

I think there is a big chance that this gasoline futures chart could be on another leg up as a 5th wave. It would also play out as another potential diagonal 5th wave, so it could end up being as choppy if not worse, than anything we’ve had so far. At this point a zigzag has completed, and if the majority does not find a new Tesla in their garage this holiday season, I don’t see gasoline crashing just yet. 

I refrain as much as possible from reciting all the fundamental reasons why gasoline goes up and down, besides, nobody will remember any fundamental reasoning even a few months from now.  We know that there is turmoil in the refining sectors when pipelines blow up or  break. It all depends on how investors react to any given news about an asset class. 

Good healthy corrections are necessary, so that prices never become very predictable. I rule out a triangle at this time because the pattern is too smooth to fit into a triangle.  Hopefully this will carry on into the spring of 2018, as gasoline continues to defy the bears.