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NYMEX RBOB: (Q18) Bears Need Close........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (Q18) Bears Need Close Below $1.9761
*RES 4: $2.0837 - 21-DMA
*RES 3: $2.0567 - High June 22
*RES 2: $2.0493 - Alternating support/resistance
*RES 1: $2.0408 - Hourly support June 22 now resistance
*PRICE: $2.0274 @ 0430GMT
*SUP 1: $2.0222 - Hourly resistance June 22 now support
*SUP 2: $1.9968 - Low June 22
*SUP 3: $1.9835 - Low June 21
*SUP 4: $1.9761 - High Apr 9 now support
*COMMENTARY: Bulls failed to capitalise on the break of $2.0493 Friday with the
lack of follow through leaving the contract looking offered to start the new
week. The $1.9761 support is key this week with bears needing a close below to
confirm focus on $1.9244-9338 where the 200-DMA is located. Bulls now need a
close above $2.0567 to ease bearish pressure and above $2.1157 to confirm breaks
of 21 & 55-DMAs and shift initial focus to $2.1904-2.2093.

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