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Gasoline Makes Another New 52 Week High

|Includes: The United States Gasoline ETF, LP (UGA)

 The Unites States Gasoline Fund ETF(NYSE:UGA) is making a new 52 week high this morning. The UGA is trading higher by 0.39 cents to $49.57 a share. Short term traders should watch for some minor intra-day resistance around the $50.00 area. However, if the violence continues to increase in Libya, and the rest of the Middle East, gasoline and oil could experience a super spike. Right now the average price of gasoline in the U.S. is around $3.47 a gallon.

Nicholas Santiago