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Free AccessNYMEX RBOB: (X18)Up Trendline Support.....>
OIL TECHS: NYMEX RBOB: (X18)Up Trendline Support Giving Way
*RES 4: $2.4000 - Channel top
*RES 3: $2.3000 - Resistance
*RES 2: $2.1500 - High Oct 3
*RES 1: $2.1000 - High Oct 9
*PRICE: $1.9196 @ 05:46 GMT
*SUP 1: $1.9081 - Low Oct 12, up trendline support
*SUP 2: $1.8840 - 200-dma
*SUP 3: $1.8402 - Low Aug 16
*SUP 4: $1.8352 - Low July 17
RBOB futures are testing up trendline support from the Feb and Aug lows, and a
close below the Oct 12 low at $1.9081 would confirm a bearish break. Bulls need
to overcome the Oct 9 high at $2.10 to improve the outlook and challenge the
cycle highs at $2.15 seen on Oct 3.
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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.