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OIL TECHS: NYMEX RBOB (X19): Still Heavy
*RES 4: $1.7526 - High Sep 16 and bull trigger
*RES 3: $1.6824 - High Sep 19 and key resistance
*RES 2: $1.6576 - High Sep 24
*RES 1: $1.6335 - High Sep 27
*PRICE: $1.5748 @ 07:01 BST Oct 1
*SUP 1: $1.5635 - Low Sep 30
*SUP 2: $1.5622 - High Sep 12
*SUP 3: $1.5462 - High Sep 13 and gap low
*SUP 4: $1.5174 - Low Sep 13
RBOB traded sharply lower yesterday. The contract remains vulnerable now that
trendline support drawn off the Sep 3 low has been breached. This reinforces the
current bearish tone with a deeper sell-off still likely towards $1.5462, Sep 13
high. A print would fill the entire gap in the chart created by the sharp price
spike on Sep 16. $1.6335, Friday's high is initial resistance however a break
above $1.6824, Sep 19 high is required to reinstate a bullish theme.