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NYMEX RBOB: (V17) $1.6741-1.6937..........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) $1.6741-1.6937 Resistance Region Key
*RES 4: $1.7102 - Hourly resistance Sept 5
*RES 3: $1.6937 - High Sept 7
*RES 2: $1.6741 - High Sept 13
*RES 1: $1.6565 - Hourly resistance Sept 13
*PRICE: $1.6537 @ 0430GMT
*SUP 1: $1.6306 - Daily Bull channel base
*SUP 2: $1.6221 - Hourly support Sept 11
*SUP 3: $1.6052 - 21-DMA
*SUP 4: $1.6006 - Low Sept 11
*COMMENTARY: Daily studies correcting from O/B are weighing and see pressure on
the daily bull channel base. 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 ($1.5179) & 200
($1.5192) DMAs. The $1.6741-1.6937 resistance region is now key. Bulls need a
close above $1.6741 to gain breathing room and above $1.6937 to return focus to
$1.7509-1.7832.

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