Gasoline May Fall to $1.76 Within a Month: Technical Analysis

Gasoline futures may fall from $2.02 a gallon to $1.76 by mid-September and below $1.35 by the end of the year, according to technical analysis by Infinity Trading.com. The front month gasoline contract is poised for a slide to $1.9575 within seven to 10 days and then $1.7619 within 30 days, said Fain Shaffer, president of Infinity Trading.com, a commodities brokerage in Medford, Oregon. Prices may then reach the April low of $1.3411, he said. “We’re coming out of the peak demand time, we’ve seen the highs in the market and could be setting up for a pretty good fall,” Shaffer said in an interview. “I think we may have seen a peak in the market at $2.08. The next objective is $1.95 and from there we could free fall.....Complete Story