Free Trial

NYMEX RBOB: (Q18) $2.1209-1575............>

OIL TECHS
OIL TECHS: NYMEX RBOB: (Q18) $2.1209-1575 Resistance Key Today
*RES 4: $2.1575 - High June 29
*RES 3: $2.1547 - Bollinger band top
*RES 2: $2.1384- High July 2
*RES 1: $2.1209 - Hourly resistance July 3
*PRICE: $2.1146 @ 0430GMT
*SUP 1: $2.1038 - Hourly support July 3
*SUP 2: $2.0915 - Low June 28
*SUP 3: $2.0738 - 21-DMA
*SUP 4: $2.0709 - Alternating hourly support/resistance
*COMMENTARY: Despite a close above the 55-DMA ($2.1153) Friday, bulls have
failed to gain traction above. Bulls now need a close above $2.1209 to gain
breathing room and above $2.1575 to shift initial focus to $2.1904-2093 and
overall focus back to $2.2686 2018 highs. Bears now need a close below $2.0915
to shift initial focus to $2.0527-0709 and hint at a move back to
$1.9761-2.0109.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.