NYMEX RBOB (Q19): Breached channel........>

OIL TECHS: NYMEX RBOB (Q19): Breached channel support

*RES 4: $2.1000 - Round number resistance

*RES 3: $2.0533 - 1.618 projection of Jun 5-Jun rally from Jul 8 low

*RES 2: $2.0378 - High Jul 11 and bull trigger

*RES 1: $1.9822 - Former channel base drawn off the Jun 18 low

*PRICE: $1.9300 @ 06:55 BST Jul 16

*SUP 1: $1.9160 - Intraday low

*SUP 2: $1.8838 - Low Jul 5

*SUP 3: $1.8623 - Low Jul 3 and key support

*SUP 4: $1.7989 - Low Jun 24

RBOB last week cleared key resistance at 1.9653, the Jul 1 high to confirm a

resumption of the uptrend. The Apr high was also tested. A clear breach of this

2.0325 resistance would pave the way for strength towards a 2.0533 Fibonacci

projection. A concern for bulls is the fact that the base of the channel has

been breached. The channel is drawn off the Jun 18 low and 198.22 is where the

former base intersects. Clearance of this level would remove the bearish threat.