June 2, 2025

Commodity Crossings: Energies - Week of June 2, 2025

Commodity Futures Weekly Newsletter- For the week of June 2nd, 2025

Gasoline futures remain range-bound and look to test support.

 

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A publication by the Research Team at Capital Trading Group: 800-238-2610


Energies
RBOB Gasoline Futures 
Gasoline Futures to test Support of 2025 trading range. 

 

The weekly chart of Gasoline Futures again continues to show a range-bound market with no break of defined ranges. It will still take a weekly close above 2.32 as a breakout sign of the recent range to target upper resistance at 2.62 and 2.79 respectively. Until then, the low of 1.8545 is support for the trading range.
Prices could next challenge Support below 2.0000
With prices at 2.0132, prices fell 6 cents this week. An RSI reading below 50, now at 44.57, puts Gasoline Futures in bearish territory, for the first time in months. The Elliott Wave count overlayed in grey suggests Wave A of a secondary A,B,C lower is beginning to emerge following an intermittent Wave X advance to Resistance.
Conclusion
As before, accept any weekly close above 2.3215 as an upside breakout of the recent range. Conversely, accept any weekly close below 1.8545 as a downside breakout of the recent range. Lacking a noticeable divergence in price sentiment at Support, the 1.8545 low of the trading range appears vulnerable.

 

 


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