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

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.