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NYMEX RBOB (Q19): Remains vulnerable for now....>

OIL
OIL: NYMEX RBOB (Q19): Remains vulnerable for now
*RES 4: $2.0378 - High Jul 11 and bull trigger
*RES 3: $2.0005 - High Jul 12
*RES 2: $1.9490 - High Jul 16
*RES 1: $1.9208 - High Jul 17
*PRICE: $1.8559 @ 06:56 BST Jul 19
*SUP 1: $1.8208 - Low Jul 18
*SUP 2: $1.7882 - 61.8% retracement of the rally between Jun 5-Jul 11
*SUP 3: $1.7493 - Low Jun 21
*SUP 4: $1.7292 - 76.4% retracement of the rally between Jun 5-Jul 11
RBOB is bearish following this weeks sharp sell-off. This negated the bullish
implications of last weeks gains. Former support at $1.8623, the low of Jul 3
has been breached reinforcing the bearish tone. The break opens $1.7882, the
61.8% retracement of the rally between Jun 5-Jul 11. Initial resistance for now
is seen at $1.9208. Prices need to regain the $1.9500 area to relieve the
current bearish pressure.

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