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NYMEX RBOB (Z19): Support Defined At......>

OIL TECHS
OIL TECHS: NYMEX RBOB (Z19): Support Defined At $1.5885
*RES 4: $1.7196 - High Sep 16 and primary resistance
*RES 3: $1.7000 - Round number resistance
*RES 2: $1.6843 - High Nov 5 and bull trigger
*RES 1: $1.6500 - High Nov 7
*PRICE: $1.6220 @ 07:42 GMT Nov 11
*SUP 1: $1.5885 - Low Nov 8 and intraday bear trigger
*SUP 2: $1.5800 - Low Oct 31 and key support
*SUP 3: $1.5536 - Low Oct 23
*SUP 4: $1.5417 - Low Oct 21
RBOB maintains a bullish outlook despite the recent pullback. A positive theme
follows the overall recovery in prices during October and the existence of a
bullish price sequence of higher highs and higher lows. Key support has been
defined at Friday's low of $1.5885 which needs to hold to avoid a bearish threat
developing. A recovery would refocus attention on $1.6843, last weeks high where
a break would confirm a resumption of the uptrend and open $1.7196.

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