Gas prices could rocket up again if key resistance at the $2.50 level is taken out. Potential Right Shoulder looks to be forming right now in the chart below. A good sign for the economy???
CLICK ON CHART TO ENLARGE
The last time gasoline futures broke above $2.50, prices became pretty painful at the pump and many feel had a negative impact on the overall economy back in 2008. If you don’t want to pay a ton at the pump, best hope this right shoulder holds just above current prices!