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NYMEX RBOB (M20): Maintains The Bullish...>

OIL TECHS
OIL TECHS: NYMEX RBOB (M20): Maintains The Bullish Reversal
*RES 4: $1.0239 - 1.618 projection of Mar 23 - Apr 9 rally from Apr 22 low
*RES 3: $1.0000 - Psychological round number
*RES 2: $0.9857 -1.50 projection of Mar 23 - Apr 9 rally from Apr 22 low
*RES 1: $0.9648 - High May 7
*PRICE: $0.9430 @ 07:20 BST May 8
*SUP 1: $0.8272 - High Apr 9 and former breakout level
*SUP 2: $0.7408 - Low May 4
*SUP 3: $0.6519 - Low Apr 24
*SUP 4: $0.5251 - Low Apr 22
RBOB futures have this week traded through key resistance at $0.8272, Apr 9
high. The break higher confirms a short-term reversal of this year's strong
sell-off and at the very least signals scope for a stronger near term corrective
recovery. Futures have traded above a key resistance area at $0.9230, the 50-day
EMA. A clear break would pave the way for a stronger rally and expose the
psychological $1.000 level. $0.8272 is firm support.

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