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NYMEX RBOB: (V17) Above $1.5166 To Ease...>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) Above $1.5166 To Ease Bearish Pressure
*RES 4: $1.5430 - High Aug 18
*RES 3: $1.5297 - High Aug 21
*RES 2: $1.5166 - Hourly support Aug 21 now resistance
*RES 1: $1.5160 - 21-DMA
*PRICE: $1.4951 @ 0430GMT
*SUP 1: $1.4825 - Hourly resistance Aug 17 now support
*SUP 2: $1.4692 - Alternating hourly support/resistance
*SUP 3: $1.4503 - Low Aug 17
*SUP 4: $1.4366 - 55-DMA
*COMMENTARY: The recovery from the dip below the 100-DMA ($1.4537) appears to
have ended with a sell-off Monday easing bullish pressure and closes below 21
($1.5160) & 200 ($1.5040) DMAs adding weight to the case for test of the
$1.4366-1.4543 region. Below the 55-DMA is needed to hint at a move back to June
lows ($1.2902) with below $1.4122 confirming. Bulls still need a close above
$1.5166.

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