CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

CANADA JOBLESS RATE +6.8% VS FORECAST +6.6%, PRIOR +6.5%

MNI China Daily Summary: Friday, December 6

MNI: PBOC Net Drains CNY288.1 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1848 Fri; -1.64% Y/Y

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

NYMEX RBOB (V20): Corrective Pullback Extends

OIL TECHS
  • RES 4: $1.3357 - 1.500 projection of Jun 12 -23 rally from Jun 29 low
  • RES 3: $1.3128 - 1.382 projection of Jun 12 -23 rally from Jun 29 low
  • RES 2: $1.3000 - Round number resistance
  • RES 1: $1.2584/2941 - High Aug 31 / High Aug 25 and the bull trigger
  • PRICE: $1.2013 @ 07:48 BST Sep 4
  • SUP 1: $1.1668 - 50-day EMA
  • SUP 2: $1.1328 - Low Aug 7
  • SUP 3: $1.0614 - Low Jul 30 and a reversal trigger
  • SUP 4: $1.0441 - Low Jun 29 and a key support

RBOB futures remain in an uptrend although a corrective pullback this week has seen price move further away from the Aug 25 high. Recent gains brought to an end a lengthy period of consolidation and this has opened $1.3000. A break of $1.2941 would reinforce bullish conditions and confirm an extension of the bullish price sequence of higher highs and higher lows. The next key support to watch lies at $1.1668, the 50-day EMA.

Energy BulletsCommodities
Energy BulletsCommodities

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.