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NYMEX RBOB: (H18) Bears Need Close........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (H18) Bears Need Close Below 21-DMA
*RES 4: $2.1705 - 2017 High Aug 31
*RES 3: $1.9749 - Daily Bull channel top
*RES 2: $1.9148 - Low Aug 31 now resistance
*RES 1: $1.8996 - High Jan 18, Bollinger band top
*PRICE: $1.8778 @ 0430GMT
*SUP 1: $1.8541 - Low Jan 19
*SUP 2: $1.8388 - Low Jan 15
*SUP 3: $1.8314 - High Jan 4 now support
*SUP 4: $1.8278 - 21-DMA
*COMMENTARY: Fresh 5mth highs continued Thursday although the lack of follow
through remains a concern for bulls. Layers of support remain with bears now
needing a close below the 21-DMA to shift focus to $1.7639-1.7813 where the
55-DMA and bull channel base are located. Overall the $1.9148 resistance remains
key with bulls needing a close above to confirm focus on the daily bull channel
top and then 2017 highs.

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