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NYMEX RBOB (K19) Rally Extends *RES 4:....>

OIL TECHS
OIL TECHS: NYMEX RBOB (K19) Rally Extends
*RES 4: $2.1384 - 76.4% retracement
*RES 3: $2.0631 - High Oct 31 
*RES 2: $2.0202 - Low Aug 16 
*RES 1: $2.0055/65 - 61.8% retracement of Oct-Dec Decline/channel top 
*PRICE: $1.9820 @ 05:59 GMT Apr 8 
*SUP 1: $1.9216 - Low April 5
*SUP 2: $1.8147/8136 - Low Mar 28/March 15 
*SUP 3: $1.7940 - High Feb 22 
*SUP 4: $1.7814 - 50-dma 
RBOB futures found support on Friday ahead of the 200-dma allowing a bullish
reversal to new ytd highs. Bulls now target the 61.8% retracement level at
$2.0055 and trend channel resistance just above it, ahead of the Aug 16 low at
$2.0202. Bears need a break below Friday's low at $1.9216 to open the March
28/March 15 low at $1.8147/36 ahead of the Feb 22 high at $1.7940. 

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