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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: Beijing To Protect Firms From U.S. Bill - MOFCOM
MNI BRIEF: SNB Cuts Policy Rate By 50 BP To 0.5%
MNI EUROPEAN MARKETS ANALYSIS: ECB Expected To Cut Rates Later
NYMEX RBOB (K20): Being Dragged Down......>
OIL TECHS: NYMEX RBOB (K20): Being Dragged Down
*RES 4: $1.7132 - High Jan 25
*RES 3: $1.6347 - High Feb 26
*RES 2: $1.6100 - Low Feb 4 and former breakout level
*RES 1: $1.5537 - High Feb 27
*PRICE: $1.4759 @ 08:18 GMT Feb 28
*SUP 1: $1.4579 - 150.0% retracement of the Oct 3 - Feb 8 rally
*SUP 2: $1.4159 - 161.8% retracement of the Oct 3 - Feb 8 rally
*SUP 3: $1.4000 - Round number support
*SUP 4: $1.3639 - 176.4% retracement of the Oct 3 - Feb 8 rally
RBOB has resumed its 2020 downtrend. This week's move lower has resulted in a
break of the $1.6100 low from Feb 4 and confirms a resumption of the bear trend.
The move lower reinforces the bearish price sequence of lower lows and lower
highs and places bears firmly in control of the trend. The focus is on $1.4579
next ahead of $1.4159, both Fibonacci retracement projections. On the upside,
firm resistance is seen at $1.6100.
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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.