Gasoline weekly uptrend opportunity based On 1.00 Lot Calculation:
- US Gasoline Inventory (BULLISH) (Week March 1- 5) (EIA): The Energy Information Administration reported a decrease of 11.87 million barrels of gasoline. This week’s increase compares to analyst expectations for a 3.47 million-barrel decrease for the week. Gasoline inventories fell by more than 25 million barrels in the last two weeks.
- US VEHICLE TRAFFIC IS RISING: NEW YORK: Traffic on city routes this month is on track to mark the fastest pace since November 2019, according to the Metropolitan Transportation Authority, in the wake of warmer weather and lighter lockdown restrictions. Across the country, daily toll traffic in San Francisco during the month rose by 13% on average after restrictions eased in California. The U.S. is the largest gasoline consumer in the world.
- GASOLINE INVENTORIES EXPECTED TO FALL INTO THE SUMMER: Starting March, the warmer weather in the US should keep people more often out travelling. Gasoline consumption rises in the US and Inventories then tend to fall. This could support the Gasoline prices through the spring into the summer.
- STATISTICS FOR MARCH-MAY TIME PERIOD (DATA: 2014-2020): According to our statistical analysis, Gasoline tends to rise in the period between March and May, with peaks to be hit either in April on May. Analysis conducted for the period between 2014 and 2020, Gasoline would rise as much as 5.56% on average (to its peak). If we exclude 2020 (when the Covid-19 Pandemic started), Gasoline would rise as much as 11.66% on average (to its peak).
Please note that past performance does not guarantee future performance.
Gasoline, March 12, 2021
Current Price: 2.1350
|
GASOLINE |
Weekly |
|
Trend direction |
|
|
2.3000 |
|
|
2.2500 |
|
|
2.2000 |
|
|
2.0700 |
|
|
2.0400 |
|
|
2.0000 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
GASOLINE |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $ |
16,500.00 |
11,500.00 |
6,500.00 |
-6,500.00 |
-9,500.00 |
-13,500.00 |
|
Profit or loss in €** |
13,827.55 |
9,637.38 |
5,447.22 |
-5,447.22 |
-7,961.32 |
-11,313.45 |
|
Profit or loss in £** |
11,839.33 |
8,251.65 |
4,663.98 |
-4,663.98 |
-6,816.58 |
-9,686.72 |
|
Profit or loss in C$** |
20,727.30 |
14,446.30 |
8,165.30 |
-8,165.30 |
-11,933.90 |
-16,958.70 |
* 1.00 lot is equivalent of 100000 units
** Calculations for exchange rate used as of 10:21 a.m. (GMT) 12/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details