Daily Archives: July 8, 2018

Gasoline Weekly Chart: Another Death Cross!

There are no wave positions with is weekly chart as wanted to show how damaging a Death Cross can be if your in long positions.  They say oil is still going to the moon and $150, and the Golden Cross has already formed. These crossings are all lagging to any wave positions but in 50 days or so the 50-day MA could slice down and through the 200-day MA,  instantly the second Death Cross is formed.  We also have a rising wedge which is extremely bearish and a “huge” gap that is still hanging around.

If you start from the 2016 bottom and look up to the 2018 peak, what is it that you see?  Is it a bear market rally, or a full-blown bull market?  Every wave analyst “must” know the difference between a bear market rally and a real bull market. Any bear market rally  “must always” retrace and return below the price point of its orgin. If gas futures hit below $.90 then the markets have confirmed a bear market rally was in progrees.

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