NYMEX RBOB: (Z17) Monday's $1.8070 Loss...>

OIL TECHS: NYMEX RBOB: (Z17) Monday's $1.8070 Loss Swings Bias Lower

*RES 4: $1.8007 Hourly High Nov 13

*RES 3: $1.7854 Nov 13 low, now resistance

*RES 2: $1.7745 Hourly base Nov 14, now resistance

*RES 1: $1.7658 Hourly recovery high Nov 14

*PRICE: $1.7391 @0203GMT                                   

*SUP 1: $1.7207 38.2% Fibo of $1.5275-$1.8402

*SUP 2: $1.7010 Oct 30 lowlow

*SUP 3: $1.6839/43 50% Fibo of $1.5275-$1.8402, Oct 27 low

*SUP 4: $1.6503 Sep 26 high, now support

*COMMENTARY: A high of $1.8402 last week before succumbing to some overbought

conditions. The subsequent pullback lost key support from $1.8070 on Monday,

below which disturbs recent upside momentum. Loss would suggest that we are

ready for some correction, possibly of the gains accrued since the Oct 9 low at

$1.5275. A low of $1.7296 so far, with $1.7207-$1.6839 the next downside

supports. Meanwhile, resistance comes from $1.7658-$1.7854.