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NYMEX RBOB (X19): Pointing North *RES.....>

OIL TECHS
OIL TECHS: NYMEX RBOB (X19): Pointing North
*RES 4: $1.7096 - 1.00 projection of Oct 11 rally off Oct 14 low
*RES 3: $1.6971 - 76.4% retracement of Sep 16 - Oct 3 decline
*RES 2: $1.6824 - High Sep 19 and key resistance
*RES 1: $1.6755 - Intraday high
*PRICE: $1.6693 @ 07:13 BST Oct 28
*SUP 1: $1.6355 - Low Oct 24
*SUP 2: $1.5833 - Low Oct 21 and key near-term support
*SUP 3: $1.5605 - Low Oct 10
*SUP 4: $1.5400 - Low Oct 8
RBOB maintains a bullish tone as prices extend gains following the breach of
former resistance at 1.6474, Oct 11 high. The break reinforces the bullish
outlook and confirms a price sequence of higher highs and higher lows,extending
the current uptrend that began on Oct 3. $1.6628, 61.8% of Sep 16 - Oct 3
decline has been cleared and attention turns to the $1.6971, 76.4% retracement.
Initial firm support has been defined at 1.5833, Oct 21 low.

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