Inability For Markets To Rally Higher Is A Bad Sign
Trade Lesson: Calculation Signals Valero Is A Short
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Gasoline And Refiners Are Topping Out After Epic Run
This afternoon, the United States Gasoline Fund (NYSEARCA:UGA) is trading higher by $1.12 to $58.28 a share. Last week, on Mach 23, 2012 the UGA made a new 52 week high at $58.63 a share. The current pattern on the daily chart of the UGA remains very strong at this time. The next major resistance levels on the daily chart will be around the $55.50, and $60.00 levels.
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Valero Energy Corporation (NYSE:VLO) announced that it will host a conference call on July 26, 2011 at 10:00 a.m. CT to discuss second quarter earnings results, which will be released earlier that day, and provide an update on company operations. Persons interested in listening to the presentation live via the internet may log on to Valero's web site at www.valero.com.