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NYMEX RBOB (H20): Strong Gains Likely.....>

OIL TECHS
OIL TECHS: NYMEX RBOB (H20): Strong Gains Likely To Extend
*RES 4: $1.8114 - High Jan 8
*RES 3: $1.7952 - 50% retracement of the Apr 25 - Feb 4 decline (continuation)
*RES 2: $1.7060 - 200-dma (continuation chart)
*RES 1: $1.6903 - High Jan 14
*PRICE: $1.6705 @ 09:32 GMT Feb 20
*SUP 1: $1.6192 - High Feb 18
*SUP 2: $1.5564 - Low Feb 13
*SUP 3: $1.5086 - Low Feb 11
*SUP 4: $1.4674 - Low Feb 6
RBOB continues to motor higher having broken above the 50% and 61.8%
retracements of the Jan 8 - Feb 4 decline. Momentum studies continue to point to
a move higher and we are approaching a couple of significant levels to the
upside: the Jan 14 high at $1.6903 and the 200-dma on the continuation chart at
$1.7060. Above here is a clear run towards the 50% retracement of the Apr 2019 -
Feb 2020 decline on the continuation chart.

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