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NYMEX RBOB: (M18) Bulls Focused On........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (M18) Bulls Focused On Channel Tops
*RES 4: $2.2283 - Daily Bull channel top
*RES 3: $2.1796 - Daily Bull channel top
*RES 2: $2.1623 - Bollinger band top
*RES 1: $2.1523 - 2018 High Apr 30
*PRICE: $2.1307 @ 0430GMT
*SUP 1: $2.1203 - Hourly support Apr 30
*SUP 2: $2.0922 - Low Apr 26
*SUP 3: $2.0654 - Low Apr 20
*SUP 4: $2.0620 - 21-DMA
*COMMENTARY: The break of the double daily top has lacked follow through with
bulls so far failing to capitalise on 2018 & 3+ yr highs. In saying that, bulls
now focus on the two daily bull channel tops in the $2.1796-2283 region. O/B
studies remain the key concern for bulls. Bears now need a close below $2.1203
to gain breathing room and below $2.0922 to shift initial focus back to
$2.0620-54 where the 21-DMA is located.

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