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NYMEX RBOB (H20): Cracks Key Support......>

OIL TECHS
OIL TECHS: NYMEX RBOB (H20): Cracks Key Support
*RES 4: $1.6903 - High Jan 14
*RES 3: $1.6879 - High Feb 20 and bull trigger
*RES 2: $1.6249 - High Feb 25
*RES 1: $1.5348 - High Feb 26
*PRICE: $1.4156 @ 07:51 GMT Feb 27
*SUP 1: $1.4000 - Round number support
*SUP 2: $1.3726 - 123.6% retracement of the Feb 4 - Feb 20 rally
*SUP 3: $1.3208 - 138.2% retracement of the Feb 4 - Feb 20 rally
*SUP 4: $1.3000 - Round number support
RBOB has resumed its 2020 downtrend. The overnight move lower has resulted in a
break of the $1.4345 low from Feb 4 and confirms a resumption of the bear trend.
The move lower reinforces the bearish price sequence of lower lows and lower
highs and places bears firmly in control of the trend. The focus is on $1.4000
next ahead of $1.3726, a Fibonacci retracement projection. On the upside,
initial resistance is seen at yesterday's $1.5348 high.

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