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NYMEX RBOB (N20): Bullish Price...........>

OIL TECHS
OIL TECHS: NYMEX RBOB (N20): Bullish Price Sequence Intact
*RES 4: $1.4141 - 61.8% retracement of the Jan - Mar downleg
*RES 3: $1.4000 - Round number resistance
*RES 2: $1.3642 - Low Jun 3 and gap high on the daily chart
*RES 1: $1.3288- High Jun 23
*PRICE: $1.2968 @ 07:23 BST Jun 24
*SUP 1: $1.2012 - Low Jun 18
*SUP 2: $1.1550 - Low Jun 16
*SUP 3: $1.0741/0961 - Low Jun 12 / 50-day EMA
*SUP 4: $0.9891 - Low May 28
RBOB futures strengthened again yesterday and resumed the uptrend that has been
in place since Apr 22. The move to fresh highs also confirms the bullish price
sequence of higher highs and higher lows reinforcing current trend conditions.
The focus is on $1.3642, Mar 6 low and a gap high on the daily chart. Key trend
support has been defined at $1.0741, Jun 12 low. A break of this level is
required to threaten the uptrend. Initial support is at $1.2012.

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