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

OIL TECHS
OIL TECHS: NYMEX RBOB: (U17) Bears Need Close Below 200-DMA
*RES 4: $1.6956 - Low Apr 17 now resistance
*RES 3: $1.6846 - High Aug 1
*RES 2: $1.6687 - Hourly resistance Aug 1
*RES 1: $1.6569 - High Aug 3
*PRICE: $1.6439 @ 0430GMT
*SUP 1: $1.6215 - 200-DMA
*SUP 2: $1.6200 - Hourly support July 28a
*SUP 3: $1.5845 - Hourly support July 26
*SUP 4: $1.5608 - 100-DMA
*COMMENTARY: The 200-DMA continues to support with bulls taking comfort in the
bounce Friday. Daily studies looking to correct from O/B remain the key concern
for bulls. The $1.6687 resistance remains key with bulls needing a close above
to return focus to $1.6956-1.7288. Bears look for a close below the 200-DMA to
confirm an easing of bullish pressure and a shift in immediate focus back to
$1.5845. Below $1.5845 is needed to target $1.5608-1.5766.

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