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NYMEX RBOB (J19) Bears Target Feb 26......>

OIL TECHS
OIL TECHS: NYMEX RBOB (J19) Bears Target Feb 26 Low 
*RES 4: $1.9324 - 200-dma
*RES 3: $1.8249 - High Nov 16 
*RES 2: $1.7800 - High Feb 22
*RES 1: $1.7720 - High Mar 1 
*PRICE: $1.7320 @ 05:51 GMT Mar 4 
*SUP 1: $1.6972 - Feb 26 low 
*SUP 2: $1.6890 - 21-dma 
*SUP 3: $1.6562 - High Feb 4 
*SUP 4: $1.5516 - Jan 28 low 
RBOB futures failed to take out their Feb 22 highs on Friday which has brought
prices back to the lower end of their recent range. Bears now have an
opportunity to target the Feb 26 low at $1.6972, with a break below here opening
the 21-dma at $1.6890. Below here would shift the outlook negative and open the
Feb 4 high initially. To reignite upside momentum bulls need to take out
Friday's high at $1.7720 and the Feb 22 high at $1.7800.

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