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NYMEX RBOB: (V17) Below $1.6070 To Gain...>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) Below $1.6070 To Gain Breathing Room
*RES 4: $1.6860 - 2017 High Jan 3
*RES 3: $1.6599 - High Jan 17
*RES 2: $1.6556 - Daily Bull channel top
*RES 1: $1.6400 - Hourly resistance Aug 30
*PRICE: $1.6315 @ 0430GMT
*SUP 1: $1.6170 - Hourly support Aug 30
*SUP 2: $1.6078 - Hourly resistance Aug 28 now support
*SUP 3: $1.5765 - Hourly support Aug 30
*SUP 4: $1.5511- Low Aug 29
*COMMENTARY: Support continues to emerge on dips with bulls now focused on the
daily bull channel top around $1.6556 today and then 2017 highs above. The
Bollinger top ($1.6050) is the key concern for bulls and hints the move is a
little overdone. Layers of support are building with bears now needing a close
below $1.6078 to gain breathing room and below $1.5765 to see focus back to
$1.5310-1.5511.

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