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NYMEX RBOB: (X17) Topside Hesitation A....>

OIL TECHS
OIL TECHS: NYMEX RBOB: (X17) Topside Hesitation A Concern
*RES 4: $1.6637 - Bollinger band top
*RES 3: $1.6590 - Daily Bull channel top
*RES 2: $1.6319 - High Sept 18
*RES 1: $1.6246 - Hourly resistance Sept 18
*PRICE: $1.6151 @ 0430GMT
*SUP 1: $1.6058 - Low Sept 18
*SUP 2: $1.5958 - Hourly support Sept 15
*SUP 3: $1.5828 - Low Sept 15
*SUP 4: $1.5705 - Low Sept 12 now resistance
*COMMENTARY: Fresh 8mth highs lacked follow through Monday with daily studies
correcting from O/B the key concern for bulls. The $1.6058 support is key today.
Bears now look for a close below $1.6058 to gain breathing room and shift
initial focus back to $1.5597-1.5705 where the 21-DMA is located. Bulls now need
a close above $1.6319 to reconfirm the bullish bias and retain focus on the bull
channel top.

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