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NYMEX RBOB: (V17) $1.6006 Support Now.....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) $1.6006 Support Now Key
*RES 4: $1.6741 - High Sept 13
*RES 3: $1.6566 - High Sept 14
*RES 2: $1.6367 - Hourly resistance Sept 14
*RES 1: $1.6287 - Hourly resistance Sept 15
*PRICE: $1.6256 @ 0430GMT
*SUP 1: $1.6221 - Hourly support Sept 11
*SUP 2: $1.6021 - 21-DMA
*SUP 3: $1.6006 - Low Sept 11
*SUP 4: $1.5511 - Low Aug 29
*COMMENTARY: Daily studies correcting from O/B are weighing and see the contract
trading below the daily bull channel base ($1.6400). Bears now look for a close
below $1.6006 to confirm breaks of the channel base and 21-DMA and to shift
focus to 55 ($1.5224) & 200 ($1.5200) DMAs. Bulls now need a close above $1.6367
to gain breathing room and above $1.6937 to return focus to $1.7509-1.7832.

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