Gold is losing and UCO short term (intra-day) indicators look supportive of more upside if it stays above $29.75.
Gasoline is getting closer to $4 bucks around here.
However UCO's daily MACD has rolled over and is at the March and April highs around $30.
Keep a close eye on the yellow metal here ($1900) as the USD is also near a double top.
One commentator: "BRICS = the end of the petrodollar and the demise of the dollar as the world's reserve currency."
Edited by Rogerdodger, 16 August 2023 - 11:30 AM.