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NYMEX RBOB: (V17) Immediate Focus on......>

OIL TECHS
OIL TECHS: NYMEX RBOB: (V17) Immediate Focus on 2017 High
*RES 4: $1.8076 - Low Aug 30 now resistance (continuation)
*RES 3: $1.6964 - Low Aug 29 now resistance (continuation)
*RES 2: $1.6860 - 2017 High Jan 3
*RES 1: $1.6796 - Hourly resistance Aug 31
*PRICE: $1.6785 @ 0430GMT
*SUP 1: $1.6441 - Hourly resistance Aug 31 now support
*SUP 2: $1.6402 - Hourly support Aug 31
*SUP 3: $1.6042 - Low Aug 30
*SUP 4: $1.5511- Low Aug 29
*COMMENTARY: The rally that began with a dip back to the 100-DMA ($1.4588)
continues with immediate bullish focus now on 2017 highs. The Bollinger top
($1.6361) indicates the move is a little overdone at current levels. In saying
that, bears need a close below $1.6402 to ease bullish pressure and below
$1.6042 to shift initial focus back to $1.5511. Daily studies are approaching
very O/B levels which is a concern for bulls.

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