NYMEX RBOB (V19): Directional clarity.....>

OIL TECHS: NYMEX RBOB (V19): Directional clarity still required

*RES 4: $1.8478 - High Apr 22

*RES 3: $1.8173 - High May 17

*RES 2: $1.7962 - High Jul 11

*RES 1: $1.7785 - High Sep 16

*PRICE: $1.7423 @ 06:36 BST Sep 17

*SUP 1: $1.7000 - Round number support

*SUP 2: $1.6370 - Intraday low

*SUP 3: $1.6208 - High Sep 11 and gap low

*SUP 4: $1.5815 - High Sep 12

RBOB also traded in a wide range yesterday as volatility spiked following events

in Saudi Arabia. It is difficult to assess technical readings under such

conditions as the market evaluates the heightened risk concerns. Prices have

however defined a key support at yesterday's low of $1.6370. A break would allow

for a deeper pullback towards $1.6208 to fill an initial gap in the chart.

Resistance is at yesterday's $1.7785 high. A breach opens the $1.8000 handle.