RBOB post tariff structure and range to take advantage of!

3天前

Hi guys today we are starting off with RBOB , which has been quiet for the past month and it has been trading in a structured range between 2.05 as a high resistance and 1.92 / 1.94 as strong support. As of today we are currently sitting at the given support line of 1.92 and the latest news which came from President Trump that he will impose tariffs on Canadian and Mexican Imports , which would probably impact and touch the Oil Industry. The U.S. imports 4M barrels of Crude Oil every single day from Canada and around 900-1M barrels of Oil Crude Oil from Mexico. These tariffs would definitely touch the consumer as a long term which would give us a boost into the overall demand / supply play around the prices of Petroleum Products.

Current entry RBOB (Gasoline)

1.9300 entry level, with two separate targets.

Target 1: 1.9755
Target 2: 2.0310

The strategy can be repeated after the targets are touched with a patient retracement of the lower support line and input similar targets.