Free Trial

NYMEX RBOB: (U18) Close Below $2.1067...>

NATURAL GAS
NATURAL GAS: NYMEX RBOB: (U18) Close Below $2.1067 Would Strengthen Bearish Case
*RES 4: $2.1741 - High May 31 
*RES 3: $2.1531 - High July 10 
*RES 2: $2.1364 - High July 27 
*RES 1: $2.1288 - High July 30 
*PRICE: $2.1095 @ 0420GMT 
*SUP 1: $2.1067 - Low July 30
*SUP 2: $2.0926 - 55-DMA
*SUP 2: $2.0814 - Low July 26 
*SUP 3: $2.0559 - Low July 25 
*SUP 4: $2.0554 - Hourly support July 24 
The contract fails to break above the bear channel from the May 22 high but is
so far clinging onto support. Bulls need to push above Friday's high at $2.1364
to mount another attempt to break into a higher range. Bears need a close below
$2.1067 to break the July uptrend and move the focus lower.

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.