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NYMEX RBOB: (F18) Bull Channel Base Key...>

OIL TECHS
OIL TECHS: NYMEX RBOB: (F18) Bull Channel Base Key Support Today
*RES 4: $1.8243 - Bollinger band top
*RES 3: $1.8151 - High Nov 8
*RES 2: $1.7940 - High Nov 27
*RES 1: $1.7591 - Low Nov 28 now resistance
*PRICE: $1.7564 @ 0430GMT
*SUP 1: $1.7537 - Low Nov 22
*SUP 2: $1.7521 - Daily Bull channel base (Off Oct 9 Low)
*SUP 3: $1.7323 - Alternating hourly support/resistance
*SUP 4: $1.7106 - Low Nov 16
*COMMENTARY: The contract is now pressuring the $1.7521-37 supports where the
bull channel base is located as it flirts with the 21-DMA ($1.7613). Bears now
need a close below the daily bull channel base to confirm an easing of bullish
pressure and to shift immediate focus back to $1.7106. Below $1.7106 targets
$1.6354-1.6588 where the 55-DMA and bull channel base are situated. Bulls Need a
close above $1.7591 to gain breathing room.

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