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

OIL TECHS
OIL TECHS: NYMEX RBOB: (G18) Bulls Need Close Above $1.7300
*RES 4: $1.8013 - Bollinger band top
*RES 3: $1.7829 - High Dec 1
*RES 2: $1.7725 - High Dec 12
*RES 1: $1.7300 - High Dec 13
*PRICE: $1.7170 @ 0430GMT
*SUP 1: $1.7022 - Hourly support Dec 19
*SUP 2: $1.6769 - Daily Bull channel base (off June 21 low)
*SUP 3: $1.6619 - Low Dec 13
*SUP 4: $1.6167 - 100-DMA
*COMMENTARY: The daily bull channel base confirmed significance with the bounce
seeing pressure on the 21-DMA ($1.7283) and $1.7300 resistance. Bulls need a
close above $1.7300 to confirm a break of the 21-DMA & an easing of bearish
pressure, shifting focus $1.7725-1.8102. Initial support is now noted at $1.7022
with bears needing a close below to ease pressure on resistance layers.

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