NYMEX RBOB (U19): In a neutral phase......>

OIL TECHS: NYMEX RBOB (U19): In a neutral phase

*RES 4: $1.7692 - Trendline resistance drawn off the Jul 11 high

*RES 3: $1.7596/7736 - 50-day EMA / Low Jul 18

*RES 2: $1.7456 - High Aug 13 and directional trigger

*RES 1: $1.6900 - Intraday high

*PRICE: $1.6897 @ 06:18 BST Aug 22

*SUP 1: $1.6303 - Low Aug 15

*SUP 2: $1.6111 - Low Aug 7 and key support

*SUP 3: $1.6062 - Low Jun 5

*SUP 4: $1.5794 - 1.00 projection of Apr 22-Jun 5 decline off Jul 11 high

RBOB key directional parameters remain $1.6111 and $1.7456 with a more neutral

tone still in place for now. For bulls, a break of 1.7456, the Aug 13 high would

be encouraging. This would signal scope for a stronger recovery and open $1.7596

initially, the 50-day EMA and trendline resistance at $1.7692, drawn off the Jul

11 high. Failure to hold above support at $.6111 would confirm a resumption of

the downtrend opening $1.6062 and $1.5794.