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Trades Below 200-DMA *RES 4: $1.9909 -....>

OIL TECHS
OIL TECHS: Trades Below 200-DMA
*RES 4: $1.9909 - 50-dma
*RES 3: $1.9502 - High May 30
*RES 2: $1.9215 - Trendline off May 17 high
*RES 1: $1.8796 - High May 31
*PRICE: $1.7518 @ 06:09 GMT Jun 3
*SUP 1: $1.7371 - Intraday low
*SUP 2: $1.7007 - 50% retracement of Dec-Apr rally
*SUP 3: $1.6172 - Low Feb 28
*SUP 4: $1.5933 - 61.8% retracement of Dec-Apr rally
RBOB futures extended its corrective pullback through the 100 & 200-dma's
(Continuation) to multi-month lows of $1.7371. A close below here would further
cement the bearish outlook, opening the 50% retracement of the Dec-Apr rally at
$1.7007, ahead of the Feb 28 low at $1.6172. Bulls will look to recover the key
dma's to stabilise the outlook, above here brings the May 31 high back into view
at $1.8796.

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