Free Trial

NYMEX RBOB: (X18) Bulls Look To Target....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (X18) Bulls Look To Target May Highs 
*RES 4: $2.3000 - Resistance 
*RES 3: $2.2000 - Bull flag breakout target 
*RES 2: $2.1000 - Resistance 
*RES 1: $2.0756 - High May 22 
*PRICE: $2.0685 @ 06:44 GMT 
*SUP 1: $1.9130 - Low Sep 6 
*SUP 2: $1.8880 - Low Aug 22 
*SUP 3: $1.8807 - 200-dma 
*SUP 4: $1.8568 - Low July 17 
RBOB futures continue to creep towards the key May 22 high of $2.0756 which
bulls need to overcome to extend the rally and focus on the $2.2 bull flag
target. On the downside the Sep 6 low of $1.9130 acts as support, and below here
lies the key Aug 22 low of $1.8880. A break below here is needed to threaten the
larger bullish trend.

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.