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NYMEX RBOB (N19): Bullish reversal........>

OIL TECHS
OIL TECHS: NYMEX RBOB (N19): Bullish reversal confirmed last week, further
upside favoured
*RES 4: $2.0011 - High May 21
*RES 3: $1.9696 - 76.4% retracement of the Apr 22-Jun 5 low
*RES 2: $1.9566 - High May 28
*RES 1: $1.9109 - 61.8% retracement of the Apr 22-Jun 5 low
*PRICE: $1.8522 @ 07:25 BST Jun 25
*SUP 1: $1.8374 - Jun 24 low
*SUP 2: $1.7646 - High Jun 11 and former breakout point
*SUP 3: $1.6658 - Low Jun 18
*SUP 4: $1.6625 - Low Jun 5
RBOB remains bullish. The move last week through the 1.7646 resistance confirmed
a bullish reversal. Momentum studies are in a favourable condition too and
rising. Also, Friday's strong rally further reinforced the bull tone. The focus
is now on the 61.8% retracement of the Apr 22-Jun 5 decline at 2.0645-1.6625
decline at 1.9109. A move through here would open 1.9566 and 1.9696.

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