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NYMEX RBOB: (X17) $1.6048 Support Now.....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (X17) $1.6048 Support Now Key
*RES 4: $1.6689 - 2017 High Jan 3
*RES 3: $1.6633 - Bollinger band top
*RES 2: $1.6319 - High Sept 18
*RES 1: $1.6285 - Hourly resistance Sept 25
*PRICE: $1.6260 @ 0430GM
*SUP 1: $1.6205 - Hourly support Sept 22
*SUP 2: $1.6048 - Hourly support Sept 21
*SUP 3: $1.5912 - Low Sept 21
*SUP 4: $1.5850 - 21-DMA
*COMMENTARY: Fresh 8mth highs lacked follow through last Monday with daily
studies correcting from O/B the key concern for bulls. Bulls take comfort from
Friday's rally that sees pressure back on $1.6319. Bulls need a close above
$1.6319 to reconfirm a bullish bias and focus on the daily bull channel top
($1.6738) and 2017 highs. Bears now need a close below $1.6048 to ease bullish
pressure and below $1.5705 to shift focus lower.

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