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NYMEX RBOB (Q20): Looking For A...........>

OIL TECHS
OIL TECHS: NYMEX RBOB (Q20): Looking For A Resumption Of Weakness
*RES 4: $1.3403 - 2.50 projection of Mar 23 - Apr 9 rally from Apr 22 low
*RES 3: $1.3253 - High Jun 23 and key resistance
*RES 2: $1.3048 - High Jun 24
*RES 1: $1.2177 - High Jun 26
*PRICE: $1.1892 @ 07:42 BST Jun 30
*SUP 1: $1.1128/21 - Low Jun 29 / 50-day EMA
*SUP 2: $1.0916 - Low Jun 12 and the bear trigger
*SUP 3: $1.0582 - Low Jun 1
*SUP 4: $1.0000 - Psychological round number
RBOB futures stalled at $1.3253 on Jun 23. The sharp pullback marks a failure to
extend gains following the recent break of former key resistance at $1.2571, Jun
8 high. The outlook is bearish and attention is on key support at $1.0916, Jun
12 low. A break of this level is required to highlight a more convincing
reversal. On the upside, clearance of $1.3253 is required to reverse the current
bearish threat.

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