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NYMEX RBOB: (V18) Rally Fails To Extend...>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V18) Rally Fails To Extend
*RES 4: $2.3000 - Bull flag breakout target 
*RES 3: $2.1150 - High May 22 
*RES 2: $2.0475 - High May 31 
*RES 1: $2.0404 - High July 10 
*PRICE: $1.9982 @ 04:50 GMT 
*SUP 1: $1.9420 - Low Aug 29 
*SUP 2: $1.8662 - Low Aug 16 
*SUP 3: $1.8644 - 200-dma 
*SUP 4: $1.7762 - Low April 6 
The failure to extend gains after breaking above $2.0 is a cautionary sign for
the bulls, which need a close above the July 10 high at $2.0404 to build upside
momentum and target the May 22 peak. Bears need a close below $1.9420 to turn
the outlook neutral but the 200-dma at $1.8644 would need to give way for the
outlook to turn bearish.

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