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NYMEX RBOB (M19) Bears Look For A Close...>

OIL TECHS
OIL TECHS: NYMEX RBOB (M19) Bears Look For A Close Below $2.0 
*RES 4: $2.2039 - High Oct 17 
*RES 3: $2.1270 - 76.4% retracement of Oct-Dec decline 
*RES 2: $2.0969 - High Apr 25 
*RES 1: $2.0854 - High May 17 
*PRICE: $2.0049 @ 01:30 GMT May 22 
*SUP 1: $2.0000 - Support
*SUP 2: $1.9614/9524 - Low May 5/55-dma 
*SUP 3: $1.9264 - Low May 7 
*SUP 4: $1.8970 - 200-dma 
RBOB futures briefly dipped below the $2.0 handle yesterday before closing above
it, but the focus remains to the downside with a close below here needed to
suggest a downside reversal towards the May 5 low/55-dma at $1.9614/9524. The
May 7 low sits behind at $1.9264 ahead of the 200-dma at $1.8970. Bulls need to
take out Friday's high at $2.0854 to shift the focus back to the April 25 ytd
high at $2.0969. Above here would open the 76.4% retracement level at 2.1270.

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