Free Trial

NYMEX RBOB: (X17) Resistance Layers.......>

OIL TECHS
OIL TECHS: NYMEX RBOB: (X17) Resistance Layers Building
*RES 4: $1.6822 - 2017 High Sept 26
*RES 3: $1.6684 - Hourly resistance Sept 26b
*RES 2: $1.6600 - Hourly resistance Sept 26a
*RES 1: $1.6517 - Hourly resistance Sept 26
*PRICE: $1.6476 @ 0430GMT
*SUP 1: $1.6354 - Hourly support Sept 25
*SUP 2: $1.6285 - Hourly resistance Sept 25a now support
*SUP 3: $1.6198 - Low Sept 25
*SUP 4: $1.6010 - 21-DMA
*COMMENTARY: The daily bull channel top ($1.6813) continues to cap with the
sell-off from fresh 2017 highs leaving the contract looking a little heavy.
Bears now look for a close below $1.6198 to confirm a shift in focus to
$1.5705-1.6010 where the 21-DMA is located. The Bollinger top ($1.6714) & O/B
studies remain key concerns for bulls. Layers of resistance are weighing with
bulls needing a close above $1.6684.

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.