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NYMEX RBOB (U19): Neutral for now *RES....>

OIL TECHS
OIL TECHS: NYMEX RBOB (U19): Neutral for now
*RES 4: $1.8471 - High Aug 1
*RES 3: $1.7962/8007/9 - Trendline resistance off the Jul 11 high / High Aug 2
*RES 2: $1.7697/7736 - 50-day EMA / Low Jul 18
*RES 1: $1.7456 - High Aug 13
*PRICE: $1.6552 @ 07:08 BST Aug 16
*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: $1.5784 - 1.00 projection of Apr 22-Jun 5 decline off Jul 11 high
RBOB found support on Aug 7 ahead of the Jun lows and rallied sharply before
selling off over the past 48-hours. This volatile price action highlights a more
neutral tone for now with key resistance defined at $1.7456, the Aug 13 high.
Clearance of this level is required to signal potential for a stronger recovery
and open $1.7696 initially, the 50-day EMA. On the downside, a move below
yesterday's low would instead open the key support and bear trigger at $1.6111.

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