Free Trial

NYMEX RBOB: (X18)Up Trendline Support.....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (X18)Up Trendline Support Breaks 
*RES 4: $2.3000 - Resistance 
*RES 3: $2.1500 - High Oct 3 
*RES 2: $2.1000 - High Oct 9 
*RES 1: $1.9900 - High Oct 17 
*PRICE: $1.8926 @ 05:50 GMT 
*SUP 1: $1.8846 - 200-dma 
*SUP 2: $1.8402 - Low Aug 16 
*SUP 3: $1.8352 - Low July 17 
*SUP 4: $1.8000 - Support 
Bears are firmly in control after yesterday's break below up trendline support
and the Oct 12 low. The focus is now on the 200-dma at $1.8846 and below here
opens the range lows seen on Aug 16/Jul 17 at $1.8402/1.8352. Bulls need to
overcome Wednesday's high at $1.9900 to improve the outlook and challenge the
Oct 9 high at $2.10.

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.