NYMEX RBOB (U19): 200-dma Breached *RES...>

OIL TECHS: NYMEX RBOB (U19): 200-dma Breached

*RES 4: $2.0378 - High Jul 11 and key resistance

*RES 3: $1.9490 - High Jul 16 (continuation)

*RES 2: $1.8938 - Low Jul 31 (continuation) - close the gap

*RES 1: $1.8208 - Low Jul 18 (continuation) and previous key support

*PRICE: $1.7204 @ 08:46 BST Aug 6

*SUP 1: $1.7234 - 200dma (continuation)

*SUP 2: $1.7019 - Near-term pivotal support

*SUP 3: $1.6625 - Low Jun 5 (continuation)

*SUP 4: $1.6490 - High Feb 28 (close the gap)

RBOB has broken below the 200-dma which came in at 1.7223 and a close below here

would suggest that an outright bearish technical pattern is beginning to form.

The 1.6625 level is now key. A break below here would be needed to confirm that

the medium term trend is switching to the downside. Below here, focus would turn

to closing the gap in the continuation chart to 1.6490. Bulls need to move back

above the broken trendline at 1.7849 to turn the outlook neutral.