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NYMEX RBOB: (V17) Double Daily Top In.....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) Double Daily Top In Play
*RES 4: $1.8076 - Low Aug 30 now resistance (continuation)
*RES 3: $1.7832 - 2017 High Sept 1
*RES 2: $1.7509 - Hourly resistance Sept 4a
*RES 1: $1.7102 - Hourly resistance Sept 4
*PRICE: $1.6953 @ 0430GMT
*SUP 1: $1.6587 - Hourly support Aug 31
*SUP 2: $1.6042 - Low Aug 30
*SUP 3: $1.5595 - 21-DMA
*SUP 4: $1.5511 - Low Aug 29
*COMMENTARY: Gains last week have left a double daily top in play ($1.7825-32)
with the contract looking a little heavy to start the new week. Daily studies
looking to correct from O/B and closes above the Bollinger top ($1.7274) are
concerns for bulls and increase the risk of a correction. Bears now look for a
close below $1.6587 to confirm initial focus on $1.6042 with a close below to
target $$1.5511-95.

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