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NYMEX RBOB (M20): Trading Closer To The...>

OIL TECHS
OIL TECHS: NYMEX RBOB (M20): Trading Closer To The Range Top
*RES 4: $0.9597 - High Mar 16
*RES 3: $0.9000 - Round number resistance
*RES 2: $0.8272 - High Apr 9 and bull trigger
*RES 1: $0.8236 - High Apr 30
*PRICE: $0.7546 @ 07:16 BST May 4
*SUP 1: $0.6519 - Low Apr 24
*SUP 2: $0.5251 - Low Apr 22
*SUP 3: $0.5189 - Low Mar 23 and primary support
*SUP 4: $0.5000 - Round number support
RBOB futures are unchanged. Futures rebounded on Apr 22 recovering off the day
low of $0.5251. This left key support at $0.5189 intact, Apr 23 trend low. The
broader outlook remains bearish although it is possible that futures will trade
in a more choppy manner within what appears to be a developing range. The top
(key resistance) is at $0.8272, Apr 9 high. A breach of $0.5189 (range base) is
needed to confirm a resumption of the downtrend.

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