Gasoline

The overall recommendation is Neutral based on technical indicators and moving averages. An RSI between 30 and 70 is pretty normal, showing a neutral rating. The MACD line is above the signal line which is a bullish hint. The 10-day EMA is below the 20-day EMA which suggests short-term weakness. The price being below the 50-day SMA is a sign of medium-term weakness. The 50-day SMA is under the 200-day SMA, suggesting a longer-term downtrend. The ATR is 0.05 which gives a sense of the current price volatility.

Goldman Sachs Research projects U.S. retail gasoline prices to average $3.50 per gallon in the second half of 2024 with a base case of $3.40 per gallon for October. Extreme weather could push prices to nearly $4.00 per gallon while avoiding disruptions could result in $3.20 per gallon. Bank of America strategists warned in August 2022 of potential gasoline price spikes in the fourth quarter of that year due to resilient demand and falling global supply. Hedge fund speculation indicates a bullish stance on gasoline futures as of December 2024, driven by low prices and concerns over future supply constraints.