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Technical Forecast for RBOB

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Technical Forecast for RBOB

 


RBOB Gasoline unexpectedly broke 295/296 but has halted below 299/300 & the next selling opportunity. We are getting overbought short term so there is a risk of a drift lower. However stopson shorts needed above 301 for 303.35.


 


A drift lower to support at 296.25/00 is possible & this could hold the downside. However on a break lower look for 295.00, possibly 293.25/00 for a buying opportunity here.

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Posted-In: Technicals Commodities Markets Trading Ideas

 

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