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NYMEX RBOB (N19) Downtrend Extends *RES...>

OIL TECHS
OIL TECHS: NYMEX RBOB (N19) Downtrend Extends
*RES 4: $1.9281 - High May 24 
*RES 3: $1.8753 - 200-dma 
*RES 2: $1.8557 - High May 31 
*RES 1: $1.7867 - High June 3 
*PRICE: $1.7062 @ 03:21 GMT Jun 5 
*SUP 1: $1.6921 - Low June 4 
*SUP 2: $1.6820 - 61.8% retracement of Dec-Apr rally 
*SUP 3: $1.6014 - Low Feb 7 
*SUP 4: $1.5823 - Low Jan 28 
The downtrend in RBOB futures extended below the $1.70 level yesterday with
recovery efforts remaining shallow. Yesterday's low is the original downside
target ahead of the the 61.8% retracement down at $1.6820. Below here would open
the Feb 7 low at $1.604. Bulls need to recover Monday's high at $1.7867 to
stabilise the outlook while a break above Friday's high at $1.8557 is needed to
put the focus back on the 200-dma.

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