NYMEX RBOB (V19): Watching support at.....>

OIL TECHS: NYMEX RBOB (V19): Watching support at $1.6370

*RES 4: $1.7962 - High Jul 11

*RES 3: $1.7533 - Intraday high

*RES 2: $1.7147 - High Jul 31

*RES 1: $1.7000 - Round number resistance

*PRICE: $1.6969 @ 07:09 BST Sep 16

*SUP 1: $1.6370 - Intraday low

*SUP 2: $1.6208 - High Sep 11 and gap low

*SUP 3: $1.5815 - High Sep 12

*SUP 4: $1.5643 - High Sep 13

RBOB is volatile too following weekend developments in Saudi Arabia. It is

difficult to assess technical readings under such conditions as the market

evaluates the heightened risk concerns. Prices have however pulled back off the

overnight spike to $1.7533. This is potentially a bearish development and does

signal scope for a retracement. Initial support is at the intraday low of

$1.6370, a break would open $1.6208 and fill a gap in the chart.