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Mascoutah, Illinois | this may be setting up for a huge return if you remain patient enough.
This contract traded to a high of $3.50 in 2008 until the global crisis hit and fell to a $1.06 netting a loss of almost 70 percent in about six months.
January 2016 RBOB is currently trading at $1.29. It reached a high of $3.40 in the summer of 2014. If it loses 70 percent like the flush we saw in 2008, we will find a bottom around $1.03. Support in 2008 was $1.06. If you can remain patient enough, I don't see why we don't trade down to the $1.03-$1.06 level. Under $1.10 in this contract, and I will try to initiate a long position.
Stay tuned. | |
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January 2016 RBOB...
