Get ready for higher gas prices… $UGA $USO $XOM $OXY $XLE $OIH $VLO
Gas prices breaking out of a large rectangle consolidation pattern on the weekly chart. This formation should be a halfway pattern in the big picture. The formation has the same characteristics as the large rectangle pattern on the left side of the chart and probably a similar outcome. The last good buy point was the last touch of the midpoint of the rectangle on both. Breakout could end up being a little sloppy if the patterns act the same. Fractals, fractals… RSI and MACD looking very bullish on the weekly chart.
Get ready for higher gas prices…
