NYMEX RBOB (F20): Bullish Focus Remains...>

OIL TECHS: NYMEX RBOB (F20): Bullish Focus Remains In Place

*RES 4: $1.7201 - 1.50 projection of Oct 3 - Oct 14 rally from Oct 21 low

*RES 3: $1.7036 - High Nov 22 and bull trigger

*RES 2: $1.6885 - High Nov 29

*RES 1: $1.6761 - High Dec 13

*PRICE: $1.6622 @ 06:55 GMT Dec 17

*SUP 1: $1.6100 - Low Dec 11

*SUP 2: $1.5550 - Low Dec 3 and key support

*SUP 3: $1.5437 - 61.8% retracement of the Oct 3 - Nov 22 rally

*SUP 4: $1.5209 - Low Oct 21

RBOB staged a recovery between Dec 3 and Dec 6. This recent move higher remains

in place and was reinforced Friday with gains that saw resistance at $1.6683,

Dec 6 high probed. This reinforces a near-term bullish outlook and sets the

scene for a climb towards $1.6885 and $1.7036, Nov 29 and Nov 22 highs

respectively. Clearance of the latter would confirm a resumption of the uptrend

in place since Aug 7. Initial key support lies $1.6100.