Unleaded Gasoline

For today's chart we've chosen to take a look at the unleaded gasoline futures contract because the price has started to consolidate around the $1.45 support level. Many traders will watch for a close beyond the short-term range between $1.45 and $1.60 before deciding on the contract's direction. We wouldn't be surprised to see the contract continue trading near the support of $1.45 for a few more days before the bulls step in and try to push the price toward the $1.60 resistance.