Free Trial

NYMEX RBOB: (U17) $1.6345 Resistance......>

OIL TECHS
OIL TECHS: NYMEX RBOB: (U17) $1.6345 Resistance Key Today
*RES 4: $1.6846 - High Aug 1
*RES 3: $1.6687 - Hourly resistance Aug 1
*RES 2: $1.6569 - High Aug 3
*RES 1: $1.6345 - High Aug 8
*PRICE: $1.6032 @ 0430GMT
*SUP 1: $1.5956 - Low Aug 8, 21-DMA
*SUP 2: $1.5944 - Daily Bull channel base
*SUP 3: $1.5618 - 100-DMA
*SUP 4: $1.5593 - Low July 26
*COMMENTARY: Time spent below the 200-DMA ($1.6208) was brief with the close
above the 200-DMA Thursday buying bulls breathing space. In saying that, the
$1.6345 resistance remains key with bulls needing a close above to ease
immediate bearish pressure and shift focus back to $1.6687-1.6956. The daily
bull channel base is key support today with bears needing a close below to shift
focus to $1.5593-1.5618.

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.