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NYMEX RBOB: (U18) Pressuring Major........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (U18) Pressuring Major Range Bottom
*RES 4: $2.1741 - High May 31 
*RES 3: $2.1531 - High July 10 
*RES 2: $2.1364 - High July 27 
*RES 1: $2.0985 - High August 8 
*PRICE: $1.9857 @ 08:48 GMT 
*SUP 1: $1.9715 - Low July 17 
*SUP 2: $1.9761 - 200-DMA 
*SUP 3: $1.9061 - Low April 6 
*SUP 4: $1.8152 - Low March 2
The pressure is back on the downside, with the 198.00 August low now clearly in
focus. This represent the lower boundary of the major trading that has developed
since mid-June. A further move below here will generate a significant bearish
technical signal open the way to test the 200-dma at 197.61 and than the July 17
low at 1.9715. Daily momentum indicators are still pointing lower. Rebounds are
likely to meet initial resistance at 202.41.

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