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OIL TECHS: NYMEX RBOB (M19) Correction Over?
*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: $2.0623 @ 06:12 GMT May 2
*SUP 1: $2.0130/2.0191 - Low April 26/21-dma
*SUP 2: $1.9480 - Uptrend support from Feb lows
*SUP 3: $1.9022 - 200-dma
*SUP 4: $1.8030 - Low Mar 28
RBOB futures look to be resuming their broader uptrend as bulls target the April
25 at $2.0969 to extend gains towards the 76.4% retracement of the Oct-Dec
decline. Above here would strengthen the uptrend towards the Oct 17, 2018 high
at $2.2039. On the downside a break below Friday's low at $2.0130 and the 21-dma
at $2.0191 would tip the balance in bears' favour. Below here would open uptrend
support from the Feb lows at $1.9480 ahead of the 200-dma.