Free Trial

NYMEX RBOB: (V17) Focus Shifts To.........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) Focus Shifts To $1.6019-1.6374
*RES 4: $1.6374 - Daily Bull channel top
*RES 3: $1.6248 - Monthly High Feb 10
*RES 2: $1.6103 - High Feb 14
*RES 1: $1.6019 - Monthly High Apr 12
*PRICE: $1.5896 @ 0430GMT
*SUP 1: $1.5832 - Hourly support Aug 25
*SUP 2: $1.5643 - Hourly resistance Aug 25 now support
*SUP 3: $1.5470 - Hourly support Aug 24
*SUP 4: $1.5267 - Hourly support Aug 23
*COMMENTARY: Bulls have reconfirmed the bullish bias with a break higher that
sees focus on layers of resistance $1.6019-1.6374 where monthly highs and the
bull channel top are situated. Layers of support have been left in the wake with
bears needing a close below $1.5643 to ease immediate bullish pressure and below
$1.5470 to shift focus back to $1.4388-1.4853 where 55 & 100-DMAs and bull
channel base are noted.

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.