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January 31, 2018 04:03 GMT
NYMEX RBOB: (H18) Bears Targeting.........>
OIL TECHS
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).
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