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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: $1.5535 - High Aug 10
*RES 3: $1.5281 - High Aug 14
*RES 2: $1.5023 - 200-DMA
*RES 1: $1.5005 - Hourly support Aug 14 now resistance
*PRICE: $1.4897 @ 0430GMT
*SUP 1: $1.4835 - Low Aug 14
*SUP 2: $1.4790 - Low July 27
*SUP 3: $1.4539 - 100-DMA
*SUP 4: $1.4281 - 55-DMA
*COMMENTARY: The correction lower from Aug highs has resulted in a close below
the 200-DMA & bull channel base with pressure on the key $1.4790 support. Bears
continue to look for a close below $1.4790 to shift focus to 55 & 100-DMAs
($1.4281-1.4539). Layers of resistance are accumulating with bulls now needing a
close above the 200-DMA to gain breathing room and above $1.5281 to shift focus
back to $1.5579-1.5669.

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