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NYMEX RBOB (M19) Uptrend Gives Way .......>

OIL TECHS
OIL TECHS: NYMEX RBOB (M19) Uptrend Gives Way 
*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: $2.0248 - 21-dma
*PRICE: $1.9555 @ 05:57 GMT May 8 
*SUP 1: $1.9293 - Low May 7 
*SUP 2: $1.9016 - 200-dma 
*SUP 3: $1.8030 - Low Mar 28 
*SUP 4: $1.7695/7770 - 50% retracement of Dec-Apr rally/100-dma
RBOB futures broke below uptrend support yesterday shifting the outlook bearish.
While we have seen a slight bounce off yesterday's low, bears remain in control
with a break below $1.9293 opening the 200-dma at $1.9016. Bulls need to recover
$2.0 on a closing basis as well as the 21-dma at $2.0248 to 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.

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