Free Trial

NYMEX RBOB: (H18) Bears Targeting.........>

OIL TECHS: NYMEX RBOB: (H18) Bears Targeting 55-DMA & Channel Base
*RES 4: $1.9088 - Hourly resistance Jan 30
*RES 3: $1.8920 - Hourly support Jan 30 now resistance
*RES 2: $1.8834 - Low Jan 23 now resistance
*RES 1: $1.8633 - 21-DMA
*PRICE: $1.8555 @ 0430GMT
*SUP 1: $1.8388 - Low Jan 15
*SUP 2: $1.8314 - High Jan 4 now support
*SUP 3: $1.7997 - 55-DMA
*SUP 4: $1.7861 - Daily Bull channel base
*COMMENTARY: Topside hesitation to start the new week has been followed up with
losses that now see the contract trading below the 21-DMA having broken $1.8834
and bears now focused on $1.7809-1.7997 where the bull channel base and 55-DMA
are noted. Bears need a close below $1.8314 to add weight to their case. Bulls
now need a close above $1.8920 to gain breathing room and initially focus on 208
highs ($1.9393).

To read the full story


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.