NYMEX RBOB (Q19): Bearish candle..........>

OIL TECHS: NYMEX RBOB (Q19): Bearish candle patterns dominate

*RES 4: $2.0099 - High May 17

*RES 3: $1.9695 - High May 21

*RES 2: $1.9653 - High Jul 1 and key resistance

*RES 1: $1.9421 - High Jul 5

*PRICE: $1.9228 @ 06:27 BST Jul 8

*SUP 1: $1.8838 - Low Jul 5

*SUP 2: $1.8623 - Low Jul 3 and today's bear trigger

*SUP 3: $1.8432 - 50-day EMA

*SUP 4: $1.7996 - 50% retracement of the Jun 5-Jul 1 rally

RBOB last weeks choppy activity highlights the current tussle between bulls and

bears. For now, a bearish corrective threat is expected to dominate following

the failure at $1.9653 on Jul 1. In candle terms last Monday formed an inverted

hammer and was followed by a bearish engulfing the following day, suggesting a

stronger likelihood gains have been capped for now. If correct, this would open

$1.7996, 50% of the Jun 5-Jul 1 rally. The key downside trigger is $1.8623.