NYMEX RBOB (H19) Neckline Comes Back......>

OIL TECHS: NYMEX RBOB (H19) Neckline Comes Back Into Play

*RES 4: $1.9260 - Low Sep 6 now resistance (continuation chart) 

*RES 3: $1.8219 - 200-dma (continuation chart) 

*RES 2: $1.6518 - Low Feb 13, 2018 (continuation chart) 

*RES 1: $1.6263 - High Feb 22 

*PRICE: $1.5404 @ 04:50 GMT Feb 26 

*SUP 1: $1.4725 - 21-dma, neckline 

*SUP 2: $1.3230 - Jan 28 low 

*SUP 3: $1.2685 - Jan 2 low (continuation chart) 

*SUP 4: $1.2450 - Dec 26 low (continuation chart) 

RBOB futures suffered a sharp drop back through the $1.60 level yesterday which

has returned attention to the neckline of the inverse head and shoulders and the

21-21 which come in around $1.4725. Below here would shift the outlook bearish

and bring the Jan 28 low at $1.3230 into view. On the upside a break above

Friday's high is needed to open the Feb 13, 2018 lows at $1.6518 ahead of a

return to the 200-dma.