Ready for a whack....
click to enlarge
Pls see Apr. 28 post Rbob High for back story.
In the meantime Rbob has 5 sub waves down for a 1 down, an abc up for 2 , implying another 5 sub waves down for a 3 ( at least) .
This is occurring during the week in which Rbob's 25 year avg seasonal spring high hits.
Not to mention todays record high crack spread and Rbob / HO.
From Reuters;
the crack

Note the POST May high sell offs. Rather consistent.


  1. Nice call...possibly a lot more to come on the downside.


Post a Comment

Popular posts from this blog

WTI Update- a 4 Handle Future?

Biden Climate Plan and Global GDP

Gasoline a By-product of Distillate