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NYMEX RBOB (N19): Extends The Downtrend...>

OIL TECHS
OIL TECHS: NYMEX RBOB (N19): Extends The Downtrend
*RES 4: $1.8631 - 200-dma
*RES 3: $1.8557 - High May 31
*RES 2: $1.8365 - 100-dma
*RES 1: $1.7867 - High June 3
*PRICE: $1.7263 @ 06:20 GMT Jun 14
*SUP 1: $1.6750 - Low Jun 13
*SUP 2: $1.6625 - Low Jun 5
*SUP 3 :$1.6088 - Low Dec 6
*SUP 4: $1.5952/5823 - 76.4% Dec-Apr rally/Low Jan 28
RBOB futures rallied $6 on the oil tanker headlines yesterday, before drifting
back under $1.7200 at the close. Despite this, the longer-term downtrend remains
intact with bears looking to clear the Jun 13 low, before challenging cycle lows
at $1.6625. Bulls need to take out the downtrend line off the Jun 3 high, which
comes in around $1.7545 today, before challenging the 100-dma at $1.8365.

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