Free Trial

NYMEX RBOB: (Z17) $1.7010-1.7288..........>

OIL TECHS: NYMEX RBOB: (Z17) $1.7010-1.7288 Support Key
*RES 4: $2.1705 - Monthly high Aug 31 (cont)
*RES 3: $1.9148 - Low Aug 31 now resistance (cont)
*RES 2: $1.7825 - Monthly high Sept 1 (cont)
*RES 1: $1.7515 - 2017 High Nov 1, Hourly resistance Nov 1
*PRICE: $1.7470 @ 0430GMT
*SUP 1: $1.7377 - Hourly resistance Oct 31 now support
*SUP 2: $1.7288 - High Oct 30 now support 
*SUP 3: $1.7010 - Low Oct 30
*SUP 4: $1.6843 - Low Oct 27
*COMMENTARY: Bulls retain current bullish focus on $1.7825 and then $1.9148
above following the break of daily bull channel tops. O/B daily studies are less
than ideal and remain the key concern for bulls. Layers of support accumulating
adds to bullish confidence with bears now needing a close below $1.7288 to
confirm an easing of bullish pressure and below $1.7010 to shift focus back to

To read the full story



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.