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

OIL TECHS
OIL TECHS: NYMEX RBOB: (N18) Topside Hesitation Weighing
*RES 4: $2.2572 - High May 23
*RES 3: $2.2195 - Low May 23 now resistance
*RES 2: $2.2043 - Hourly support May 28 now resistance
*RES 1: $2.1771 - 21-DMA
*PRICE: $2.1412 @ 0430GMT
*SUP 1: $2.1233 - Hourly support May 29
*SUP 2: $2.0778 - 55-DMA
*SUP 3: $2.0587 - Bollinger band base
*SUP 4: $2.0547 - Low May 3
*COMMENTARY: The lack of topside follow through on recent 2018 highs has
resulted in a sell-off and the contract now gaining traction below the 21-DMA.
Bears now focus their attention on $2.0547-2.0778 where the 55-DMA and Bollinger
base are situated. The 21-DMA is initial resistance with bulls needing a close
above to ease bearish pressure and above $2.2195 to return initial focus to
retests of 2018 highs.

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