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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.
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Free AccessMNI BRIEF: China November PMI Rises Further Above 50
MNI US Macro Weekly: Politics To The Fore
NYMEX RBOB (J20): Bears Firmly In.........>
OIL TECHS: NYMEX RBOB (J20): Bears Firmly In Charge
*RES 4: $1.4411 - Low Mar 2
*RES 3: $1.3480 - Low Mar 6 and gap high on daily chart
*RES 2: $1.2348 - High Mar 10 and key near-term resistance
*RES 1: $1.1171 - Mar 12 high
*PRICE: $0.9400 @ 07:41 GMT Mar 13
*SUP 1: $0.8536 - Low Mar 12
*SUP 2: $0.8361 - 3.236 projection of Jan 8 - Feb 4 decline from Feb 20 high
*SUP 3: $0.8000 - Round number support
*SUP 4: $0.7842 - 3.382 projection of Jan 8 - Feb 4 decline from Feb 20 high
RBOB suffered a sharp sell-off again yesterday with futures trading to fresh
lows and confirming a resumption of the downtrend. This again also confirms that
the path of least resistance remains down and suggests further price
depreciation is likely. The move below the psychological $1.000 level has opened
$0.8361 next, a Fibonacci projection. Initial firm resistance resides at
yesterday's $1.1171 high.
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Why MNI
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.