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NYMEX RBOB: (U17) Bears Need Close........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (U17) Bears Need Close Below $1.6501
*RES 4: $1.7973 - High Jan 23
*RES 3: $1.7581 - High Jan 24
*RES 2: $1.7288 - Monthly High Apr 12
*RES 1: $1.6956 - Low Apr 17 now resistance
*PRICE: $1.6629 @ 0430GMT
*SUP 1: $1.6501 - Monthly High May 25 now support
*SUP 2: $1.6406 - Hourly support July 28
*SUP 3: $1.6221 - 200-DMA
*SUP 4: $1.6200 - Hourly support July 28
*COMMENTARY: Bulls made short work of the 200-DMA Friday with gains continuing
in Asia and bulls now focused on $1.6956-1.7288 where Apr highs are located. O/B
daily studies and the Bollinger top ($1.6500) are the key concerns with
potential to limit follow through. Bears now need a close below $1.6500 to gain
breathing room and below $1.5845 to shift focus back to $1.5246-1.5593.

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