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NYMEX RBOB (N20): Strong Reversal *RES....>

OIL TECHS
OIL TECHS: NYMEX RBOB (N20): Strong Reversal
*RES 4: $1.4000 - Round number resistance
*RES 3: $1.3642 - Low Jun 3 and gap high on the daily chart
*RES 2: $1.3288 - High Jun 23 and key resistance
*RES 1: $1.3056 - High Jun 24
*PRICE: $1.1742 @ 07:23 BST Jun 25
*SUP 1: $1.1550 - Low Jun 16
*SUP 2: $1.0922 - 50-day EMA
*SUP 3: $1.0741 - Low Jun 12 and the bear trigger
*SUP 4: $1.0410 - Low Jun 1
RBOB futures stalled at Tuesday's high of $1.3288. The sharp pullback marks a
failure to extend gains following the recent break of former key resistance at
$1.2444, Jun 8 high. The outlook is bearish and attention turns to key support
at $1.0741, Jun 12 low. A break of this level is required to highlight a more
convincing reversal. On the upside, clearance of $1.3288 is required to ease the
developing bearish threat.

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