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#SaxoStrats - Pumped up gasoline in line for a correction?

RBOB gasoline has been one the best performing commodities in 2015, driven by a US driver-led rally. That might be about to change. Refinery demand is showing the first signs of slowing and a first inventory rise since May 1 triggered a sharp price reversal on June 17.

Management and risk description

The major risk to this view is an energy complex rally with refinery demand rebounding and a weak US dollar. If the second entry is hit, move stop down to $213.

Parameters

Entry: 1/2 at the market ($211) and 1/2 at 207.20 stop.

Stop: $219.

Target: $190.

Time horizon: Futures expiry June 30.

01:04 minutes
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