Free Trial

NYMEX RBOB: (F18) $1.7106 Support.........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (F18) $1.7106 Support Remains Key
*RES 4: $1.8500 - Daily Bull channel top
*RES 3: $1.8290 - High Nov 8
*RES 2: $1.8151 - High Nov 8
*RES 1: $1.7806 - High Nov 14
*PRICE: $1.7668 @ 0430GMT
*SUP 1: $1.7487 - 21-DMA
*SUP 2: $1.7323 - Alternating hourly support/resistance
*SUP 3: $1.7106 - Low Nov 16 
*SUP 4: $1.6588 - Low Oct 27
*COMMENTARY: Bears continue to fail to capitalise on dips below the 21-DMA and
need a close below $1.7106 to confirm a break of the 21-DMA and to shift focus
back to $1.6354-1.6588 where the 55-DMA and bull channel base are situated.
Bulls look for a close above $1.7806 to reconfirm focus on $1.8151-1.8500 where
the bull channel top is located.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.