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

OIL TECHS: NYMEX RBOB (Q19): Bearish candle patterns still 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: $1.9323 @ 06:47 BST Jul 10

*SUP 1: $1.8838 - Low Jul 5

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

*SUP 3: $1.8446 - 50-day EMA

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

RBOB activity highlights the present 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 the pattern on Jul 1 is an inverted hammer and

this 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. Key resistance is 1.9653, the Jul 1 high.