Gasoline closed down by -8.12% to 2.13 on 23 January 2021 and +-3.05% on a weekly basis. Gasoline momentum was last calculated at +100.0/100 indicating positive momentum. Gasoline trend is +75.0/100 indicating a positive trend. Gasoline momentum exhaustion is 1.44556 indicating Gasoline is oversold.Gasoline RSI is 76.1316 .
Gasoline closed at 2.13 on 23 January 2021. Gasoline trend was last calculated at +75.0/100 (range: -100 to +100) indicating a positive trend based on MacroVar models. Gasoline momentum was last calculated at +100.0/100 (range: -100 to +100) indicating positive momentum. Gasoline momentum exhaustion is 1.44556 (normal range: -2.5 to +2.5, overbought values: greater than 2.5, oversold values: less than 2.5) indicating Gasoline is oversold and a possible reversal is imminent. Gasoline RSI was last calculated at 76.1316. Gasoline moving averages were last recorded as follows: 1-month moving average: 1.35877 in an uptrend , 1-quarter moving average: 1.2276 in an uptrend and 1-year moving average: 1.11342 in a downtrend. Gasoline annual return was last recorded at None%, daily return was last recorded at -8.12%, and weekly return was last recorded at -3.05%. Gasoline histrorical 20-day volatility was last recorded at 25.337%, Gasoline alpha None, Gasoline beta None and Gasoline maximum drawdown was recorded at None%. MacroVar models monitor Gasoline statistics based on historical data since 1970.
Momentum trading is used to capture moves in shorter timeframes than trends. Momentum is the relative change occurring in markets. Relative change is different to a trend. A long-term trend can be up but the short-term momentum of a specific market can be 0. If a market moves down and then moves up and then moves back down the net relative change in price is 0. That means momentum is 0. A short-term positive momentum, with a long-term downtrend results in markets with no momentum.
MacroVar Gasoline momentum signal ranges from -100 to +100. The
Gasoline momentum signal is derived as the mean value from 4 calculations for the China Import Dry Bulk Freight Index CDFI. The timeframes monitored are the following: 1 Day (1 trading day), 1 Week (5 trading days), 1 Month (20 trading days), 3 Months (60 trading days)
For each timeframe, the following calculations are performed: 1. Gasoline return is calculated for the specific timeframe and 2. if the return calculated is higher than 0, signal value output is 1 else signal value is -1. Gasoline BADI momentum signal is the aggregate of the the 4 values. A technical momentum rollover is identified when Gasoline momentum signal moves from positive to negative value or vice-versa.
Gasoline trend signal ranges from -100 to +100. Gasoline trend indicator is the mean value of the 8 calculations described below. The timeframes monitored are the following: 1-month (20 trading days), 3-months (60 trading days), 6-months (125 trading days), 1-year (250 trading days)
For each timeframe, the following calculations are performed: 1. Gasoline Closing price vs Gasoline moving average (MA) calculation: If Gasoline is greater than Gasoline MA value is +1, else -1, 2. Gasoline Moving average slope calculation: if current Gasoline moving average is higher than the previous MA, Gasoline upward slope +1, else -1
Gasoline trend model can be used as a trend strength indicator. Gasoline trend strength values ranging between +75 and +100 or -75 and -100 show strong trend strength.
A technical trend rollover is identified when Gasoline trend strength indicator moves from positive to negative value or vice-versa.
The most important trend indicator
The Gasoline 52-week simple moving average and its slope are the most important indicators defining a market’s trend. Gasoline is in an uptrend when Gasoline price is higher than the 52-week moving average and the Gasoline 52-week moving average has an upward slope. If fundamentals of the market have not changed and the moving average slope is still in uptrend, a price drop signifies a market correction and not a change of trend. Traders should watch oscillators like the Gasoline oscillator and Gasoline RSI to buy the dip and still follow the trend. The moving average slope turn signifies a change of trend.
The Gasoline oscillator estimated by MacroVar is the z-score of the current Gasoline price versus Gasoline 1-year simple moving average price. The formula for the Gasoline oscillator is: Gasoline oscillator = (Current Price – 250 trading days Gasoline simple moving average price) / (250 days Gasoline price standard deviation)
Gasoline oversold conditions
Gasoline is oversold when it is subject to a persistent downward pressure due to extreme fund outflows. When the Gasoline is oversold it is often due for a rebound. Values of the Gasoline oscillator lower than -2.5 signify oversold conditions. It must be noted that the Gasoline oscillator must be analyzed ibn conjunction with the rest of Gasoline quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the Gasoline RSI.
Gasoline overbought conditions
Gasoline is overbought when it is subject to a persistent upward pressure due to extreme fund inflows. When the Gasoline is overbought it is often due for a correction. Values of the Gasoline oscillator higher than +2.5 signify overbought conditions. It must be noted that the MacroVar oscillator must be compared to the rest of the Gasoline quantitative factors. Traders should pay less attention to overbought or oversold conditions during strong trends. They should pay close attention during counter trends and all combined with the RSI.
Gasoline RSI Indicator
The RSI indicator measures the speed and change of price movements. The RSI indicator oscillates between 0 and 100. RSI is a useful indicator during normal trending market conditions when an asset price oscillates around its trend value. During big moves and strong trends however, like short squeezes or price spikes RSI and other oscillators don’t work.
During normal trend market conditions and when Gasoline is in a downtrend RSI values between 50-60 signify overbought conditions before the downtrend is ready to resume. During Gasoline uptrend, RSI values of 40 to 50 signify oversold conditions before the uptrend is ready to resume. It is strongly not recommended to enter a position when the RSI is “overbought” and falling or vice versa.
MacroVar calculates Gasoline returns for the following timeframes: Daily, Weekly, Monthly, Yearly. The formula for calculating returns is: