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NYMEX RBOB: (X18) Back Below $2.10 .......>
OIL TECHS: NYMEX RBOB: (X18) Back Below $2.10
*RES 4: $2.5000 - Resistance
*RES 3: $2.4000 - Channel top
*RES 2: $2.3000 - Resistance
*RES 1: $2.1500 - High Oct 3
*PRICE: $2.0705 @ 05:26 GMT
*SUP 1: $2.0000 - Support
*SUP 2: $1.9130 - Low Sep 6
*SUP 3: $1.8880 - Low Aug 22
*SUP 4: $1.8743 - 200-dma
Nov-18 RBOB futures are off to a bad start this week with the $2.10 level giving
way with relative ease to shift the near-term focus towards support at $2.0.
Below here gives bears the advantage and suggests growing potential for a
reversal. Bulls need to reclaim the Oct 3 high at $2.15 to reignite positive
momentum and keep the bullish bigger picture trend intact.
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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.