NYMEX RBOB (Q19): Lacking bullish.........>

OIL TECHS: NYMEX RBOB (Q19): Lacking bullish momentum

*RES 4: $2.0378 - High Jul 11 and key resistance

*RES 3: $2.0005 - High Jul 12

*RES 2: $1.9490 - High Jul 16

*RES 1: $1.9208 - High Jul 17

*PRICE: $1.9000 @ 06:39 BST Jul 31

*SUP 1: $1.8432 - Low Jul 29

*SUP 2: $1.8208 - Low Jul 18 and bear trigger

*SUP 3: $1.7866 - 61.8% retracement of the rally between Jun 5-Jul 11

*SUP 4: $1.7493 - Low Jun 21

RBOB is firmer having traded above resistance at $1.8949, the high of Jul 18. An

ability to hold onto these recent gains would signal potential for a recovery

towards $1.9490, the high of Jul 16. A break above this level is required to

strengthen the case for bulls. The recovery since the May 18 low has however

lacked strong upside momentum, so it is still possible this move is a

correction. A break of $1.8432 would see bears return and again open $1.8208.