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NYMEX RBOB: (F18) Pressuring Channel......>

OIL TECHS: NYMEX RBOB: (F18) Pressuring Channel Base
*RES 4: $1.7527 - Hourly resistance Dec 1
*RES 3: $1.7353 - Hourly resistance Dec 4
*RES 2: $1.7142 - Hourly support Dec 5 now resistance
*RES 1: $1.6894 - Low Dec 5 now resistance
*PRICE: $1.6677 @ 0430GMT
*SUP 1: $1.6647 - Daily Bull channel base (Off June 21 Low)
*SUP 2: $1.6354 - Low Oct 25 
*SUP 3: $1.5870 - 100-DMA
*SUP 4: $1.5831 - Low Oct 17
*COMMENTARY: Losses continue for the contract with immediate pressure now on the
daily bull channel base. O/S studies are noted as a concern for bears. Bears now
look for a close below $1.6354 to confirm initial focus on $1.5831-70 where the
100-DMA is located. Initial resistance is noted at the Dec 5 low with bulls
needing a close above to ease bearish pressure. Overall a close above $1.7700 is
needed to shift focus back to $1.8151 2017 highs.

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