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NYMEX RBOB (U19): Watch directional.......>

OIL TECHS
OIL TECHS: NYMEX RBOB (U19): Watch directional triggers
*RES 4: $1.7834 - Trendline resistance drawn off the Jul 11 high
*RES 3: $1.7656/7736 - 50-day EMA / Low Jul 18
*RES 2: $1.7456 - High Aug 13 and directional trigger
*RES 1: $1.6741 - High Aug 15
*PRICE: $1.6628 @ 06:39 BST Aug 20
*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 have been defined at $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
that would open $1.7656 initially, the 50-day EMA and trendline resistance at
$1.7834, drawn off the Jul 11 high. Failure to hold above support at $.6111
would confirm a resumption of the downtrend and open $1.6062 and $1.5794.

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