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NYMEX RBOB (U19): Neutral tone for now....>

OIL TECHS
OIL TECHS: NYMEX RBOB (U19): Neutral tone for now
*RES 4: $1.8471 - High Aug 1
*RES 3: $1.8007/29 - High Aug 2 / Trendline resistance drawn off the Jul 11 high
*RES 2: $1.7736/55 - Low Jul 18 / 50-day EMA
*RES 1: $1.7456 - High Aug 13
*PRICE: $1.6648 @ 07:06 BST Aug 15
*SUP 1: $1.6507 - Low Aug 14
*SUP 2: $1.6359 - Low Aug 8
*SUP 3: $1.6111 - Low Aug 7 and key support
*SUP 4: $1.6062 - Low Jun 5
RBOB found support just ahead of the Jun lows last Wednesday and rallied sharply
Tuesday before selling off equally sharply yesterday. 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 that would open $1.7755 initially, the 50-day EMA. On the
downside, a move below yesterday's low would open key support at $1.6111.

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