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NYMEX RBOB (M19) Challenging May Highs....>

OIL TECHS
OIL TECHS: NYMEX RBOB (M19) Challenging May Highs
*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: $2.0400      - High May 13
*PRICE: $2.0180      @ 05:58 GMT May 16
*SUP 1: $1.9293/9278 - Low May 7/55-dma
*SUP 2: $1.8977      - 200-dma
*SUP 3: $1.8030/7996 - Low Mar 28/100-dma
*SUP 4: $1.7695      - 50% retracement of Dec-Apr rally
RBOB futures squeezed back above the 2.00 level on Wednesday, putting the focus
back on the May 13 high at 2.0400. Consolidation above would see bulls target
recent cycle highs at 2.0946, ahead of the 76.4% retracement level at 2.1270.
Bears need a close back under 2.00 to return the focus to the May 7 low at
1.9293, ahead of the 200-dma at 1.8977.

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