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OIL TECHS: NYMEX RBOB (Z19): Still Trending Higher
*RES 4: $1.7561 - 1.618 projection of Oct 3 - Oct 14 rally from Oct 21 low
*RES 3: $1.7248 - 1.382 projection of Oct 3 - Oct 14 rally from Oct 21 low
*RES 2: $1.7196 - High Sep 16 and primary resistance
*RES 1: $1.7093 - High Nov 22
*PRICE: $1.6754 @ 06:58 GMT Nov 27
*SUP 1: $1.6431 - Low Nov 21
*SUP 2: $1.5868 - Low Nov 20 and bear trigger
*SUP 3: $1.5800 - Low Oct 31 and a key support
*SUP 4: $1.5536 - Low Oct 23
RBOB maintains a bullish stance following last weeks sharp rally off the Nov 20
low. The recovery resulted in a breach of key resistance at $1.6843, Nov 5 high
and the former bull trigger. This has confirmed a resumption of the uptrend that
has been in place since Oct 3 and attention turns to $1.7196, Sep 16 high and
the primary resistance. Key support has been defined at $1.5868, Nov 21 low.
Initial support lies at $1.6431, Nov 21 low.