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OIL TECHS: NYMEX RBOB: (Z18) Up Trendline Support Under Threat
*RES 4: $2.0939 - High Oct 9
*RES 3: $1.9887 - High Oct 17
*RES 2: $1.8578 - 200-dma
*RES 1: $1.7049 - High Nov 7
*PRICE: $1.5654 @ 05:55 GMT
*SUP 1: $1.5000 - Up trendline support from 2016 lows
*SUP 2: $1.4000 - Support
*SUP 3: $1.3756 - Low Aug 18, 2017
*SUP 4: $1.2986 - Low June 21, 2017
While Tuesday's low remains intact for now, recovery efforts have been limited
keeping the focus on up trendline support from the 2016 lows at $1.50. Below
here would leave very little support in the way of a return to the $1.40 level.
Bulls need to recover the $1.7049 level marking the Nov 7 high to turn the
outlook neutral, while a break above the 200-dma at $1.8578 is needed to put
bulls back in the diving seat.