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NYMEX RBOB: (Z17) Bull Channel Top........>

OIL TECHS

OIL TECHS: NYMEX RBOB: (Z17) Bull Channel Top Capping

*RES 4: $1.7825 - Monthly high Aug 31 (cont)

*RES 3: $1.7407 - Daily Bull channel top

*RES 2: $1.7288 - High Oct 30

*RES 1: $1.7159 - Hourly resistance Oct 30

*PRICE: $1.7112 @ 0430GMT

*SUP 1: $1.7010 - Low Oct 30

*SUP 2: $1.6843 - Low Oct 27

*SUP 3: $1.6658 - Low Oct 25

*SUP 4: $1.6550 - High Oct 23 now support

*COMMENTARY: Follow through is lacking with the contract capped around the daily

bull channel top and layers of resistance starting to build. Bears now look for

a close below $1.6843 to confirm an easing of bullish pressure and below $1.6550

to shift focus back to $1.5918-1.6250 where the 21-DMA ($1.6227) is located.

Bulls remain focused on the bull channel tops and then $1.7825-1.8100. O/B daily

studies and the Bolli top ($1.7347) are concerns for bulls.

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NYMEX RBOB: (Z17) Bull Channel Top........>

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