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Free AccessNYMEX RBOB (U19): Scope seen for..........>
OIL TECHS: NYMEX RBOB (U19): Scope seen for further gains
*RES 4: $180.07 - High Aug 2
*RES 3: $1.7819 - 50-day EMA
*RES 2: $1.7736 - Low Jul 18
*RES 1: $1.7456 - High Aug 13
*PRICE: $1.7220 @ 07:22 BST Aug 14
*SUP 1: $1.6522 - Low Aug 13
*SUP 2: $1.6359 - Low Aug 8
*SUP 3: $1.6111 - Low Aug 7
*SUP 4: $1.6062 - Low Jun 5
RBOB found support just ahead of the Jun lows last Wednesday and rallied sharply
yesterday, breaking through resistance at $1.6895 and the $1.7000 level. The
strong bounce neutralises the recent bearish theme and the focus turns to the
50-day EMA at $1.7818. A break above yesterday's high of $1.7456 would open this
MA where a clear breach is required to encourage bulls further. On the downside,
support lies at $1.6522.
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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.