NYMEX RBOB (Q20): Key Resistance Still....>

OIL TECHS: NYMEX RBOB (Q20): Key Resistance Still Intact

*RES 4: $1.3744 - 2.618 projection of Mar 23 - Apr 9 rally from Apr 22 low

*RES 3: $1.3403 - 2.50 projection of Mar 23 - Apr 9 rally from Apr 22 low

*RES 2: $1.3253 - High Jun 23 and key resistance

*RES 1: $1.2994/3048 - High Jul 23 / High Jun 24

*PRICE: $1.2656 @ 06:17 BST Jul 24

*SUP 1: $1.1939 - Low Jul 17

*SUP 2: $1.1826/00 - 50-day EMA / Low Jun 30

*SUP 3: $1.1128 - Low Jun 29

*SUP 4: $1.0916 - Low Jun 12 and the trend reversal trigger

RBOB futures continue to trade below the key resistance of $1.3253, Jun 23 high.

The sharp pullback from $1.3253, between Jun 23 - 29 marked a failure to extend

gains beyond $1.2571, Jun 8 high. This highlights a bearish risk with attention

on $1.0916, Jun 12 low. A break would confirm a reversal. The initial bear

trigger is $1.1128, Jun 29 low. Clearance of $1.3253 would instead resume the

uptrend that started in April.