NYMEX RBOB (F20): Off Recent Highs *RES...>

OIL TECHS: NYMEX RBOB (F20): Off Recent Highs

*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: $1.6683 - High Dec 6

*PRICE: $1.6389 @ 07:37 GMT Dec 11

*SUP 1: $1.6019 - Low Dec 15

*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 despite this weeks marginal pullback and the focus is on whether there

remains potential for an extension that would expose $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. Key support has been defined at

the Dec 3 low $1.5550. A break would resume the bearish threat.