March RBOB did hold support at 303.38 as hoped but then burst through resistance in the 307/308 area. We have therefore embarked on the next leg of the bull run which should target 320 & probably as far as 323.89.
If we cannot beat yesterday’s high of 313.86 we may see a small pullback to find support at 310.18 then 308.20/00 which should hold the downside.
Long term levels
309.22 Weekly 61.8% Fibonacci
306.98 Last Week’s High
305 January High
298.25 Last Week’s Low
290.78 100 Week Moving Average
283.95 December High
269.15 Jan Low
The article was first published by DayTradeIdeas.com
Most Popular Slideshows
- Top Ten Most Peaceful Countries in the World in 2013 [SLIDESHOW]
- Kim Kardashian Baby Girl: Suggested Ways Kanye West’s New Born Can Earn Money to Keep Up with the Kardashians [PHOTOS]
- 'Game of Thrones'-like Film, 'The Queen of the Tearling,' Casts Emma Watson as Lead Star and Exec Producer [PHOTOS]
- Asus Transformer Infinity Pad, Sony Vaio Duo, Toshiba Satellite, A Look at Intel's Haswell 4th Generation Ultrabooks and Notebooks [Photos]