NYMEX RBOB (Q19): Bullish within the......>

OIL TECHS: NYMEX RBOB (Q19): Bullish within the channel

*RES 4: $2.1207 - Bull channel top drawn off the Jun 18 low

*RES 3: $2.0915 - 4.500 projection of High Jul 1 and key resistance

*RES 2: $2.0653 - 4.236 projection of High Jul 1 and key resistance

*RES 1: $2.0351 - Intraday high

*PRICE: $1.9945 @ 07:03 BST Jul 12

*SUP 1: $1.9828 - Intraday low

*SUP 2: $1.9467 - Bull channel base drawn off the Jun 18 low

*SUP 3: $1.9276 - Low Jul 10

*SUP 4: $1.8838 - Low Jul 5

RBOB this week cleared its former key resistance at 1.9653, the high of Jul 1 to

confirm a resumption of the uptrend that began off the Jun low. The Apr high has

also been tested and a clear breach of this $2.0325 resistance would pave the

way for strength towards the bull channel top currently at $2.1385. The channel

is drawn off the Jun 18 low and its base lies at $1.9467 today representing an

important support.