Free Trial

NYMEX RBOB: (Z17) $1.6550 Support.........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (Z17) $1.6550 Support Remains Key
*RES 4: $1.7825 - 2017 high Aug 31 (cont)
*RES 3: $1.7262 - Dally Bull channel Top A
*RES 2: $1.7047 - Dally Bull channel Top B
*RES 1: $1.6959 - High Oct 25
*PRICE: $1.6854 @ 0330GMT
*SUP 1: $1.6753 - Hourly support Oct 25
*SUP 2: $1.6550 - High Oct 23 now support 
*SUP 3: $1.6250 - Low Oct 24 
*SUP 4: $1.6200 - Hourly support Oct 20
*COMMENTARY: Fresh 2017 highs continue following the bounce from ahead of the
$1.6200 support. Bears need a close below $1.6550 to ease immediate bullish
pressure and below $1.6200 to shift focus back to the key $1.5918-1.6022 region
where the 21-DMA is noted. Daily studies at O/B levels and the Bollinger top
($1.6866) are key concerns for bulls who currently focus on daily bull channel
tops.

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.