Elliott Wave 5.0 "Reboot"

Monday, April 18, 2016

RBOB Gasoline Intraday Bull Market Review



So far it looks like gasoline is still on and upward path with corrections thrown in to confuse us. Gasoline did break to new highs, but it is also on a different path than WTI oil is as gasoline never even came close to hitting new record lows. RBOB also contains a huge gap under which we can only see on the weekly or daily charts. 

I believe we are still in a"C" wave bull market in Minute degree, but we are still far from sea wave one in Minute degree. Besides being in a potential triangle we have to wait and see if gasoline breaks out another leg up.