NYMEX RBOB (U19): Eyeing the $1.6111......>

OIL TECHS: NYMEX RBOB (U19): Eyeing the $1.6111 bear trigger

*RES 4: $1.7463/90 - 50-day EMA / Trendline resistance drawn off the Jul 11 high

*RES 3: $1.7456 - High Aug 13 and directional trigger

*RES 2: $1.7166 - Aug 21 high

*RES 1: $1.6708 - High Aug 23

*PRICE: $1.6222 @ 06:40 BST Aug 27

*SUP 1: $1.6111/07 - Low Aug 7 and 26 and key support

*SUP 2: $1.6062 - Low Jun 5

*SUP 3: $1.5794 - 1.00 projection of Apr 22-Jun 5 decline off Jul 11 high

*SUP 4: $1.5571 1.618 projection of Jul 11 - Jul 18 decline off Jul 31 high

RBOB directional parameters at $1.6111 - $1.7456 are still relevant. Price

action did probe $1.6111 yesterday however a convincing break is still required.

This would confirm a resumption of the downtrend and open $1.6062 and $1.5794.

For bulls, clearance of 1.7456, the Aug 13 high would be encouraging. This would

open $1.7463, the 50-day EMA and trendline resistance at $1.7490, drawn off the

Jul 11 high. The 1.7456/90 zone marks an important resistance band.