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NYMEX RBOB (U19): Watching directional....>

OIL TECHS
OIL TECHS: NYMEX RBOB (U19): Watching directional triggers
*RES 4: $1.7718 - High Aug 5
*RES 3: $1.7456 - High Aug 13 and directional trigger
*RES 2: $1.7355/7401 - Trendline resistance drawn off the Jul 11 high / 50-day
EMA
*RES 1: $1.7166 - Aug 21 high
*PRICE: $1.6904 @ 06:43 BST Aug 29
*SUP 1: $1.6546 - Low Aug 28
*SUP 2: $1.6111/07 - Low Aug 7 and 26 and key support
*SUP 3: $1.6062 - Low Jun 5
*SUP 4: $1.5794 - 1.00 projection of Apr 22-Jun 5 decline off Jul 11 high
RBOB directional parameters at $1.6111 - $1.7456 are still relevant. Price
action probed $1.6111 Monday however a convincing break is still required
following this weeks gains. This would confirm a resumption of the downtrend
opening $1.6062 and $1.5794. For bulls, clearance of 1.7456, the Aug 13 high
would be encouraging. 

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