Free Trial

NYMEX RBOB: (G18) Hesitating Ahead Of.....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (G18) Hesitating Ahead Of 2017 High
*RES 4: $1.9148 - Low Auf 31 now resistance
*RES 3: $1.8440 - Bollinger band top
*RES 2: $1.8402 - High Nov 8 (cont)
*RES 1: $1.8153 - 2017 High Dec 12
*PRICE: $1.8021 @ 0430GMT
*SUP 1: $1.7771 - Low Jan 4
*SUP 2: $1.7588 - Low Jan 3
*SUP 3: $1.7525 - 21-DMA
*SUP 4: $1.7410 - 55-DMA
*COMMENTARY: Despite looking heavy Wednesday bulls took comfort in the
aggressive bounces and bullish closes that see focus back on $1.8153. Bulls need
a close above this level to confirm focus on tests of continuation contract
highs for Nov at $1.8402. Bears still look for a close below $1.7588 ease
bullish pressure and below$1.7032 to end bullish hopes and shift initial focus
to $1.6545-6619 where the 100-DMA is noted.

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.