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NYMEX RBOB: (U17) Looking A Little........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (U17) Looking A Little Heavy
*RES 4: $1.7288 - Monthly High Apr 12
*RES 3: $1.6956 - Low Apr 17 now resistance
*RES 2: $1.6846 - High Aug 1
*RES 1: $1.6687 - Hourly resistance Aug 1
*PRICE: $1.6527 @ 0430GMT
*SUP 1: $1.6387 - Low Aug 1
*SUP 2: $1.6220 - 200-DMA
*SUP 3: $1.6200 - Hourly support July 28a
*SUP 4: $1.5845 - Hourly support July 26
*COMMENTARY: Correcting O/B daily studies are weighing on the contract with the
$1.6387 support key today. Bears look for a close below $1.6387 to confirm an
easing of bullish pressure. A close below $1.6200 is needed to hint at a
correction with below $1.5845 confirming pressure on $1.5585-96 where the daily
bull channel base, 21 & 100-DMA are situated. Bulls now need a close above
$1.6687 to gain breathing room.

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