UGA topped at the end of October. It has steadily declined since then. You would think that the gasoline prices would increase going into the high demand of the Holiday Season. What will the price do after the Holiday demand is gone? UGA has fallen below the 233 EMA, which indicates a potential change in trend. The 13 EMA is now below the 55 EMA indicating a short-term downtrend. Right now, the 55 EMA is above the 233 EMA, making the EMA between the 13 EMA and 55 EMA. This is what makes the 233 EMA so important. The price reached into the TAZ for three days, but could not even close inside it. The price sold off hard the day before, forming a bearish engulfment candlestick pattern. The price also touched the 233 EMA before falling hard into the close. The price did bounce up to the 13 EMA today. The next couple of trading days will be significant for the future direction of price. There is a trend line connecting the tops from the October top. That line will be resistance. That level is several dollars above the current price. A drop below the 12/11/09 low will confirm the change in trend. That will push the price well below the 233 EMA and should put the 55 EMA below the 233 EMA. A push below the 12/11/09 low will also put the price well below the up trend line shown on the chart. That will signal a confirmation a change in trend.