NYMEX RBOB (X20): Stalls Ahead Of Key Resistance

• RES 4: $1.3000 - Round number resistance
• RES 3: $1.2462 - High Aug 25 and the bull trigger
• RES 2: $1.2352 - High Sep 27
• RES 1: $1.2186 - High Sep 28
• PRICE: $1.1479 @ 07:38 BST Sep 30
• SUP 1: $1.1317 - Low Sep 22 and the near-term bear trigger
• SUP 2: $1.1125 - Low Sep 16
• SUP 3: $1.0660 - Low Sep 11 and the bear trigger
• SUP 4: $1.0501 - Low Jul 30

RBOB found resistance yesterday and sold off sharply. The pullback highlights a bearish threat once again and attention turns to support at $1.1317, Sep 22 low. A break of this level would set the scene for a deeper pullback, paving the way for weakness towards major support at $1.0660, the Sep 11 low. This is also the bear trigger. On the upside, initial resistance is at $1.2186, Monday's high. Key resistance is at $1.2462, Aug 25 high.