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NYMEX RBOB: (Z18) Oversold But No Sign....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (Z18) Oversold But No Sign Of A Bottom
*RES 4: $2.0939 - High Oct 9 
*RES 3: $1.9887 - High Oct 17 
*RES 2: $1.8613 - 200-dma 
*RES 1: $1.7049 - High Nov 7 
*PRICE: $1.6192 @ 05:41 GMT 
*SUP 1: $1.5929 - Low Feb 9 
*SUP 2: $1.5000 - Support 
*SUP 3: $1.4000 - Support 
*SUP 4: $1.3756 - Low Aug 18, 2017 
RBOB futures continue to show no sign of a bullish reversal despite been deeply
oversold on many metrics. Bears target the Feb 9 and ytd low at $1.5929, below
which the $1.50 level comes into play. Bulls need to recover the $1.7049 level
marking the Nov 7 high to turn the outlook neutral, while a break above the
200-dma at $1.8613 is needed to put bulls back in the diving seat.

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