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NYMEX RBOB (G19) Stuck Below 50-DMA.......>

OIL TECHS
OIL TECHS: NYMEX RBOB (G19) Stuck Below 50-DMA
*RES 4: $1.6104 - high Nov 16 (continuation chart) 
*RES 3: $1.5177 - High Dec 7 (continuation chart) 
*RES 2: $1.4677 - High Jan 18 
*RES 1: $1.3948 - 50-dma (continuation chart) 
*PRICE: $1.3801 @ 05:57 GMT Feb 1 
*SUP 1: $1.3230 - Jan 28 low 
*SUP 2: $1.2685 - Jan 2 low 
*SUP 3: $1.2450 - Dec 26 low (continuation chart)
*SUP 4: $0.8975 - Feb 12 2016 (continuation chart) 
RBOB futures failed to break above their 50dma yesterday keeping the outlook
neutral for now. A break above here is needed to open the Jan 18 high at
$1.4677, above which would suggest an inverse head and shoulders pattern has
been triggered. Bear look to Monday's low at $1.3230 to build on recent downward
momentum and target the Jan 2 and Dec 26 lows.

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