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OIL TECHS: NYMEX RBOB (Z19): Consolidating
*RES 4: $1.7196 - High Sep 16 and primary resistance
*RES 3: $1.7000 - Round number resistance
*RES 2: $1.6843 - High Nov 5 and bull trigger
*RES 1: $1.6550 - High Nov 15
*PRICE: $1.6217 @ 07:27 GMT Nov 19
*SUP 1: $1.5885 - Low Nov 8 and intraday bear trigger
*SUP 2: $1.5800 - Low Oct 31 and key support
*SUP 3: $1.5536 - Low Oct 23
*SUP 4: $1.5417 - Low Oct 21
RBOB continues to consolidate. A positive theme however remains intact and
follows the recovery in prices during October that maintains the existence of a
bullish price sequence of higher highs and higher lows. Key support has been
defined at $1.5885, Nov 8 low which needs to hold to avoid a bearish threat
developing. A recovery would refocus attention on $1.6843, Nov 5 high where a
break would confirm a resumption of the uptrend and open $1.7196.