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NYMEX RBOB: (F18) Bounces From Channel....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (F18) Bounces From Channel Base, Support Building
*RES 4: $1.7527 - Hourly resistance Dec 1
*RES 3: $1.7427 - 21-DMA
*RES 2: $1.7353 - Hourly resistance Dec 4
*RES 1: $1.7142 - Hourly support Dec 5 now resistance
*PRICE: $1.6972 @ 0430GMT
*SUP 1: $1.6900 - Hourly support Dec 7
*SUP 2: $1.6800 - Hourly resistance Dec 7 now support 
*SUP 3: $1.6681 - Daily Bull channel base (June 21 low)
*SUP 4: $1.6600 - Low Dec 6
*COMMENTARY: The daily bull channel base off June 21 lows confirmed significance
with the contract bouncing and support layers building adding to bullish
confidence. Bulls now need a close above the 21-DMA to hint at a shift in focus
back to $1.8151 with above $1.7700 confirming. Bears now need a close below
$1.6800 to return pressure to the key $1.6354-1.6681 region where the bull
channel base is situated.

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