Free Trial

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

NYMEX RBOB (V19): Looking for a bearish...>

OIL TECHS: NYMEX RBOB (V19): Looking for a bearish break
*RES 4: $1.7962 - High Jul 11
*RES 3: $1.7785 - High Sep 16
*RES 2: $1.7246 - 61.8% of the decline from Sep 16 high to Sep 18 low
*RES 1: $1.7128 - High Sep 20
*PRICE: $1.6878 @ 06:35 BST Sep 23
*SUP 1: $1.6370 - Low Sep16
*SUP 2: $1.6208 - High Sep 11 and initial gap low
*SUP 3: $1.5815 - High Sep 12
*SUP 4: $1.5643 - High Sep 13 and gap low
RBOB pulled back Friday but remains in a range. Near-term bearish pressure is
expected to dominate and attention is on $1.6208, Sep 11 high. A print of this
level would fill an initial gap in the chart. A deeper sell-off would open
$1.5643, Sep 13 high to fill the entire gap in the chart created by the sharp
spike on Sep 16. The trigger for a resumption of weakness is $1.6370. Friday's
high of $1.7128 marks initial resistance.

To read the full story

Why Subscribe to


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.