Free Trial

NYMEX RBOB: (J18) Pressure on Key.........>

OIL TECHS: NYMEX RBOB: (J18) Pressure on Key Support
*RES 4: $1.9940 - Hourly resistance Feb 27
*RES 3: $1.9696 - Alternating daily support/resistance
*RES 2: $1.9555 - 21-DMA
*RES 1: $1.9375 - 100-DMA
*PRICE: $1.9269 @ 0430GMT
*SUP 1: $1.9081 - Low Feb 16
*SUP 2: $1.9464 - Low Feb 23
*SUP 3: $1.9243 - Hourly support Feb 21
*SUP 4: $1.9081 - Low Feb 16
*COMMENTARY: Time spent above the 55-DMA ($1.9809) was brief with the correction
lower taking out key supports with pressure currently on $1.9081. Below $1.9081
remains needed to see bears focus on $1.8186-1.8384. Bulls now need a close
above $1.9696 to gain breathing room and above above $2.0173 to confirm focus on
$2.0846-2.0995. Correcting O/B studies are seen weighing.

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.