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NYMEX RBOB: (V17) Bears Need Close........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) Bears Need Close Below $1.4790
*RES 4: $1.5669 - High Aug 1
*RES 3: $1.5579 - High Aug 7
*RES 2: $1.5535 - High Aug 10
*RES 1: $1.5281 - Hourly support Aug 10 now resistance
*PRICE: $1.5133 @ 0430GMT
*SUP 1: $1.5034 - Hourly support Aug 11
*SUP 2: $1.4962 - Daily Bull channel base
*SUP 3: $1.4908 - Low Aug 11
*SUP 4: $1.4790 - Low July 27
*COMMENTARY: The sharp correction lower from ahead of the $1.5579-1.5669 region
resulted in a dip below 21 ($1.4998) & 200 ($1.5024) DMAs before finding support
around the bull channel base Friday. The $1.4790 support is now key with bears
needing a close below to shift focus to 55 & 100-DMAs ($1.4286-1.4539). Bulls
now need a close above $1.5281 to ease bearish pressure and return focus to
$1.5579-1.5669.

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