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NYMEX RBOB: (M18) Increased Correction....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (M18) Increased Correction Risk
*RES 4: $2.1523 - 2018 High Apr 30
*RES 3: $2.1474 - Bollinger band top
*RES 2: $2.1409 - High May 7
*RES 1: $2.1255 - Hourly resistance May 8
*PRICE: $2.1137 @ 0430GMT
*SUP 1: $2.0950 - High May 3 now support
*SUP 2: $2.0904 - 21-DMA
*SUP 3: $2.0529 - Low May 3
*SUP 4: $2.0305 - Low Apr 17
*COMMENTARY: Hesitation ahead of 2018 highs risks putting in a lower shoulder
and increases the risk of a correction back to $1.9941-2.0260 where 55 &
100-DMAs are located. Bears now look for a close below the 21-DMA to ease
bullish pressure and add weight to the correction case. Bulls look for a close
above $2.1523 to target the bull channel top around $2.2389.

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