Oil and Gasoline ETFs Diverge

The indicator window shows the US Gasoline Fund (UGA) peaking in mid October (blue) and moving lower the last six weeks, while the US Oil Fund (USO) continued moving higher (red). Something needs to give here. Notice that UGA formed a large descending triangle the last 5-6 months and a break below 45 would signal a continuation lower.

111128uga


Click this chart for a live image

 Previous Article Next Article