NYMEX RBOB (G19) Back Above $140 *RES.....>

OIL TECHS: NYMEX RBOB (G19) Back Above $140

*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: $1.4012 @ 05:46 GMT Jan 25 

*SUP 1: $1.3734 - 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 have recovered the $140 level after holding above their their

21-dma on Wednesday. The recovery remains intact above here, with bulls setting

their sights on 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 at $1.3734 is needed to allow a return

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