Pure Fuel Worth Forecast: Fuel Costs Pause, However Sellers Keep Management…

Bears Maintain Momentum

Wednesday’s muted bounce underscores the prevailing draw back bias. Downward stress has remained regular, and the shortcoming to rally highlights persistent promoting. For pure fuel to show significant power, a rally above the minor swing low of $2.97 could be wanted. Till that happens, the pattern stays tilted decrease, with extra bearish targets now in view.

ABCD Patterns Information Draw back Targets

A decisive break beneath $2.73 would expose the following potential help derived from a 100% measured transfer of a smaller ABCD sample, projecting to $2.63. Whereas this stage holds technical significance, the shortage of confluence from different indicators suggests restricted reliability. Extra compelling is the broader help zone between $2.54 and $2.51. This space combines a number of indicators, together with a 127.2% projection from the smaller ABCD sample and a 78.6% projection from a bigger ABCD construction anchored at this 12 months’s peak. The overlap of those Fibonacci-based ranges strengthens the case for this confluence zone to behave as a magnet for worth if weak spot persists.

Resistance Ranges to Watch

On the upside, near-term resistance sits across the 20-Day transferring common, presently at $2.98. This stage aligns with a long-term anchored VWAP measured from the 2024 backside, including weight to its significance. The AVWAP, which acted as help earlier within the 12 months, now joins the 20-Day common as a possible lid for any rallies inside the ongoing downtrend.

Outlook

Pure fuel continues to commerce underneath bearish management, with Wednesday’s quiet session doing little to shift momentum. A breakdown beneath $2.73 would open the door to decrease Fibonacci-based targets, with $2.54–$2.51 standing out as the following key confluence zone. Till consumers can push worth again above $2.97, the bears stay firmly in cost.

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