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NYMEX RBOB: (N18) Topside Hesitation......>

OIL TECHS
OIL TECHS: NYMEX RBOB: (N18) Topside Hesitation Weighing
*RES 4: $2.2975 - Low Oct 8 2014 now resistance
*RES 3: $2.2804 - 2018 High May 22
*RES 2: $2.2666 - Hourly resistance May 22
*RES 1: $2.2572 - High May 23
*PRICE: $2.2253 @ 0430GMT
*SUP 1: $2.2195 - Low May 23
*SUP 2: $2.1871 - Low May 15
*SUP 3: $2.1787 - 21-DMA
*SUP 4: $2.1585 - Low May 10
*COMMENTARY: Fresh 2018 highs lacked follow through this week with offers
emerging on rallies leaving the contract looking heavy and focus on initial
support. Bears now need a close below $1.2195 to ease bullish pressure and hint
at a correction back to $2.1787-1871 where the 21-DMA is found. Correcting O/B
studies remain a concern for bulls. Bulls now need a close above $2.2804 to
reconfirm focus on $2.2975-2.4311.

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