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NYMEX RBOB (N19): Downtrend Intact *RES...>

OIL TECHS
OIL TECHS: NYMEX RBOB (N19): Downtrend Intact
*RES 4: $1.8721      - 200-dma
*RES 3: $1.8557      - High May 31
*RES 2: $1.8326      - 100-dma
*RES 1: $1.7867      - High June 3
*PRICE: $1.7262      @ 06:15 GMT Jun 7
*SUP 1: $1.6688/25   - Low June 6, Jun 5
*SUP 2: $1.6088      - Low Dec 6
*SUP 3: $1.5952/5823 - 76.4% Dec-Apr rally/Low Jan 28
*SUP 4: $1.5273      - High Dec 26
Despite halting the run of 6 consecutive down days and closing above the $1.70
level, momentum indicators continue to give bearish signals. A weekly close back
through $1.70 would be consistent with the downtrend where substantial support
awaits in the $160.88 to $158.23 zone. Bulls look for a positive close to change
the outlook, targeting a run at the 100-dma & May 31 high at $1.8326/8557.

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