Free Trial

NYMEX RBOB: (M18) Hinting At Decent.......>

OIL TECHS
OIL TECHS: NYMEX RBOB: (M18) Hinting At Decent Correction
*RES 4: $2.1724 - Daily Bull channel top
*RES 3: $2.1483 - Bollinger band top
*RES 2: $2.1387 - 2018 High Apr 23
*RES 1: $2.1203 - Hourly resistance Apr 27
*PRICE: $2.1102 @ 0430GMT
*SUP 1: $2.0922 - Low Apr 26
*SUP 2: $2.0654 - Low Apr 20
*SUP 3: $2.0493 - Low Apr 18
*SUP 4: $2.0485 - 21-DMA
*COMMENTARY: A double daily top is in place around 2018 highs and hints at a
correction initially targeting $2.0260-0654 where the 21-DMA is located. Below
$2.0260 then shifts initial focus to $1.9864-1.9941 where 55 & 100-DMAs are
noted. Bulls continue to look for a close above $2.1387 to initially target
$2.1652-1705 where 2017 highs and a bull channel top are noted.

To read the full story

Close

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.