NYMEX RBOB: (V18) Bulls Need Close........>

OIL TECHS: NYMEX RBOB: (V18) Bulls Need Close Above 55-DMA

*RES 4: $1.9765 - 55-DMA

*RES 3: $1.9726 - High July 13

*RES 2: $1.9492 - 21-DMA

*RES 1: $1.9395 - Hourly resistance July 24

*PRICE: $1.9312 @ 0430GMT

*SUP 1: $1.9225 - Hourly support July 23

*SUP 2: $1.8981 - Low July 20

*SUP 3: $1.8707 - Daily Bull channel base off Feb 13 low

*SUP 4: $1.8593 - Low July 17

*COMMENTARY: The recovery from last week's low and bounce from the daily bull

channel base is hesitating around the 21-DMA. The 55-DMA is key resistance this

week. Bulls need a close above the 55-DMA to end bearish hopes and shift initial

focus back to $2.0153-0603. Correcting O/S studies are the key concern for bears

and add support to the case for a correction. In saying that, bears now need a

close below $1.8981 to shift pressure back to $1.8593-1.8707.