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NYMEX RBOB (J19) Shrugging Off Weakness...>

OIL TECHS
OIL TECHS: NYMEX RBOB (J19) Shrugging Off Weakness
*RES 4: $2.0000 - Resistance 
*RES 3: $1.9958 - 61.8% of Oct-Dec Decline 
*RES 2: $1.9500 - Inverse head and shoulders target 
*RES 1: $1.9366 - Intraday high 
*PRICE: $1.9173 @ 05:44 GMT Mar 25
*SUP 1: $1.8627 - Key Near Term Support 
*SUP 2: $1.8282 - Low March 15 
*SUP 3: $1.8212 - 21-dma 
*SUP 4: $1.7390 - Low Mar 8 
RBOB futures have remained resilient in the face of broad based oil sector
weakness, keeping the near term outlook neutral. Bulls look to take out Friday's
high at $1.9366 to reignite upside momentum towards the inverse H & S target at
$1.9500, ahead of the 61.8% retracement level at $1.9958. Bears need to clear
the key support level at $1.8627 to open a run at the Mar 15 low at $1.8282.

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