NYMEX RBOB (G19) 21-DMA Holds *RES 4:.....>

OIL TECHS: NYMEX RBOB (G19) 21-DMA Holds

*RES 4: $1.8945 - 200-dma (continuation chart) 

*RES 3: $1.6104 - high Nov 16 (continuation chart) 

*RES 2: $1.5177 - High Dec 7 (continuation chart) 

*RES 1: $1.4677 - High Jan 18 (continuation chart) 

*PRICE: $1.3850 @ 06:02 GMT Jan 24 

*SUP 1: $1.3696 - 21-dma (continuation chart) 

*SUP 2: $1.2685 - Jan 2 low (continuation chart) 

*SUP 3: $1.2450 - Dec 26 low (continuation chart) 

*SUP 4: $0.8975 - Feb 12 2016

RBOB futures found some support at the 21-dma yesterday at $1.3696 which keeps

the outlook neutral. Bulls target the Jan 18 highs at $1.4677, above which would

trigger a potential inverse head and shoulder pattern opening the Dec 7 high and

beyond. On the downside, a break below the 21-dma would allow a return to the

Jan 2 low at $1.2685 ahead of the Dec 26 low at $1.2450.