NYMEX RBOB: (G18) Bulls Need Close........>

OIL TECHS: NYMEX RBOB: (G18) Bulls Need Close Above 21-DMA

*RES 4: $1.7829 - High Dec 1

*RES 3: $1.7725 - High Dec 12

*RES 2: $1.7307 - 21-DMA

*RES 1: $1.7032 - High Dec 15

*PRICE: $1.6745 @ 0430GMT

*SUP 1: $1.6707 - Daily Bull channel base (off June 21 low)

*SUP 2: $1.6619 - Low Dec 13

*SUP 3: $1.6121 - 100-DMA 

*SUP 4: $1.5903 - Low Oct 17

*COMMENTARY: Pressure remains on the daily bull channel base with bears now

needing a close below $1.6619 to confirm a break and initially pressure

$1.5903-1.6121 were the 100-DMA is noted. The Bollinger base and O/S studies are

key concerns for bears. Bulls now need a close above the 21-DMA to confirm an

easing of bearish pressure and to shift focus back to layers of resistance

$1.7725-1.8102.