Gasoline - Biggest 3-day Bounce Since 2008, Looking Good
CLICK ON CHART TO ENLARGE
Gasoline ETF (UGA) has gained 12% in the past 3-days. This is the strongest 3-day rally since 2009 (left chart).
The right chart graphs out the different times UGA has had large 3-day bounces since 2008.
The Power of the Pattern suggested for members to buy UGA last week due to channel support/positive patterns were in play in the chart below.
CLICK ON CHART TO ENLARGE
Perspective - The Dow has done well the past couple of days, to match the rally of Gasoline, the Dow would have to be up over 2,000 points! Nice bounce in UGA at this time!
A rally in Gasoline and Crude Oil could well be viewed as a positive by the stock markets!
Disclosure: None.
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