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

OIL TECHS
OIL TECHS: NYMEX RBOB: (U17) Bulls Need Close Above $1.6345
*RES 4: $1.6687 - Hourly resistance Aug 1
*RES 3: $1.6569 - High Aug 3
*RES 2: $1.6345 - High Aug 8
*RES 1: $1.6172 - Hourly resistance Aug 8
*PRICE: $1.6032 @ 0430GMT
*SUP 1: $1.5956 - Low Aug 8
*SUP 2: $1.5884 - 21-DMA, Daily Bull channel base
*SUP 3: $1.5610 - 100-DMA
*SUP 4: $1.5593 - Low July 26
*COMMENTARY: Bears finally managed a close below the 200-DMA ($1.6209) that
leaves the contract looking heavy and pressure now on layers of support
$1.5593-1.5884. Bears now need a close below $1.5593 to hint at a move back to
$1.3805 with below $1.4589 needed to confirm. The $1.6345 resistance is key
today with bulls needing a close above to ease immediate bearish pressure.

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