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NYMEX RBOB (N19): Uptrend accelerates.....>

OIL TECHS
OIL TECHS: NYMEX RBOB (N19): Uptrend accelerates
*RES 4: $2.0645 - High Apr 22 and major resistance
*RES 3: $2.0511 - High may 17
*RES 2: $2.0011 - High May 21
*RES 1: $1.9787 - Intraday high
*PRICE: $1.9500 @ 07:10 BST Jun 26
*SUP 1: $1.9051 - Intraday low
*SUP 2: $1.8374 - Jun 24 low
*SUP 3: $1.7646 - High Jun 11 and former breakout point
*SUP 4: $1.6658 - Low Jun 18
RBOB has led the way in this week's commodity rally. The move last week through
the $1.7646 resistance confirmed a bullish reversal and bulls haven't looked
back. Momentum studies are in a favourable condition too and rising. The 76.4%
retracement of the Apr 22-Jun 5 decline at $1.9696 has today been tested and
attention now turns to a 100% retracement back to the Apr high 2.0645. Initial
support sits at 1.9051.

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