Free Trial

NYMEX RBOB: (X18) Inside Day Keeps........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (X18) Inside Day Keeps Focus On $2.20
*RES 4: $2.5000 - Resistance 
*RES 3: $2.4000 - Channel top 
*RES 2: $2.3000 - Resistance 
*RES 1: $2.2000 - Bull flag breakout target 
*PRICE: $2.1293 @ 06:15 GMT
*SUP 1: $2.0000 - Support 
*SUP 2: $1.9130 - Low Sep 6 
*SUP 3: $1.8880 - Low Aug 22 
*SUP 4: $1.8681 - 200-dma 
RBOB futures posted an inside day yesterday holding above $2.12 to keep the
focus on the bull flag breakout target at $2.20. Above here could accelerate
gains towards the channel top at $2.40 given the building upside momentum. On
the downside the $2.00 level acts as support which bears need to overcome to
shift the outlook neutral. Below the Sep 6 low of $1.9130 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.