GASO Update

Here is a good chart to end the week with as the price of gasoline affects us all. GASO has just broken down from a small red rectangle and has now completely closed the big gap made on the way up. Notice the reverse symmetry annotation on the chart below. There is a good chance that we will see gasoline fall pretty hard as there wasn’t much in the way of any consolidation patterns made on the way up so there isn’t much to stop the price action as it comes down. Alot of times how a stock goes up is how it will come down in a situation like this.