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NYMEX RBOB (M19) Bulls Cling To $2.0 On...>

OIL TECHS
OIL TECHS: NYMEX RBOB (M19) Bulls Cling To $2.0 On A Closing Basis
*RES 4: $2.3383 - High Oct 3 
*RES 3: $2.2039 - High Oct 17 
*RES 2: $2.1270 - 76.4% retracement of Oct-Dec decline 
*RES 1: $2.0969 - High Apr 25 
*PRICE: $2.0163 @ 05:56 GMT May 3 
*SUP 1: $1.9956 - Low May 2
*SUP 2: $1.9660 - Uptrend support from Feb lows 
*SUP 3: $1.9019 - 200-dma 
*SUP 4: $1.8030 - Low Mar 28 
RBOB futures saw a large down day yesterday with the $2.0 level giving way
briefly before closing above it. Bulls now need to hold this level to sustain
the uptrend and return the focus to the April 25 at $2.0969. A break above here
is needed to open the 76.4% retracement of the Oct-Dec decline. On the downside
a close below $2.0 would tip the balance in bears' favour opening uptrend
support from the Feb lows at $1.96600 ahead of the 200-dma.

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