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NYMEX RBOB (V19): Pressing key............>

OIL TECHS
OIL TECHS: NYMEX RBOB (V19): Pressing key resistance
*RES 4: $1.6908 - High Aug 1
*RES 3: $1.6446 - High Aug 2
*RES 2: $1.6141 - High Aug 5
*RES 1: $1.6027 - Intraday high
*PRICE: $1.5939 @ 07:02 BST Sep 10
*SUP 1: $1.5517 - Trendline resistance-now-support drawn off Jul 11 high
*SUP 2: $1.5093 - Low Sep 6
*SUP 3: $1.4667 - Low Sep 4
*SUP 4: $1.4475 - Low Sep 3
RBOB rallied Friday and started the week on a firmer note. Trendline resistance
drawn off the Jul 11 high has been cleared and today, resistance at $1.5979, the
high of Aug 13 is under pressure. A clear break would confirm a breach of the
entire band of resistance between $1.5828 - $1.5979 representing the 50-day EMA
and Aug 13/21 highs. This would also confirm a bullish reversal and open
$1.6446. Support lies at $1.5517, the former trendline resistance.

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