{"id":2129,"date":"2026-06-16T15:08:51","date_gmt":"2026-06-16T15:08:51","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=2129"},"modified":"2026-06-16T15:08:51","modified_gmt":"2026-06-16T15:08:51","slug":"mapping-the-market-signs-of-relief-at-us-gasoline-pumps-possibly-more-to-come","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=2129","title":{"rendered":"Mapping the Market: Signs of relief at US gasoline pumps, possibly more to come"},"content":{"rendered":"
\n
June 16 (Reuters) – U.S. gasoline prices have fallen more than 20% since their Iran-war peak in April, with the latest declines encouraged by the announcement of a deal to \u200bend hostilities, and they could slide further if a pattern forming on \u200cthe charts comes to fruition.<\/div>\n
Click here for a more detailed chart.<\/svg>, opens new tab<\/span><\/div>\n
The price action in U.S. gasoline futures since the start of the war has carved out what technical analysts call a head-and-shoulders pattern \u2014 \u200bone of the most widely recognized signals that a market may be reversing \u200bcourse. Think of it as a silhouette: two smaller peaks, the shoulders, \u2060flanking a taller central peak, the head. When prices fall below the base connecting \u200bthe two shoulders, known as the neckline, it typically signals more losses ahead.<\/div>\n
In this case, \u200bthe left shoulder formed around March 23 near $3.40, the head peaked on April 30 at about $3.82, and the right shoulder has been taking shape in the $3.20\u2013$3.25 area. The neckline sits near $2.90. If the \u200bpattern plays out fully, the measured move lower would be around $0.90, potentially dragging prices \u200bdown to the $2.00\u2013$2.10 range, where they traded before the war began.<\/div>\n
A momentum indicator called the Relative Strength \u200cIndex, \u2060or RSI, is also pointing lower, though it is approaching oversold territory, meaning the right shoulder may need more time to develop. Notably, RSI also failed to confirm the April peak \u2014 a divergence traders read as a warning that the rally was losing steam.<\/div>\n
As \u200bwith many markets, gasoline \u200bprices have been \u2060sensitive to Iran-war developments and may continue to be so until the deal is fully sealed and subsequent negotiations take place. To \u200bsignal a return to higher prices, gasoline would need to climb \u200bback above $3.40.<\/div>\n
What \u2060the chart shows:<\/div>\n
\n