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NYMEX RBOB (G20): Off Recent Highs *RES...>

OIL TECHS
OIL TECHS: NYMEX RBOB (G20): Off Recent Highs
*RES 4: $1.8781 - 1.236 projection of Oct 3 - Nov 22 rally from Dec 3 low
*RES 3: $1.8178 - 1.00 projection of Oct 3 - Nov 22 rally from Dec 3 low
*RES 2: $1.8000 - Round number resistance
*RES 1: $1.7656 - High Dec 27
*PRICE: $1.7207 @ 07:21 GMT Dec 31
*SUP 1: $1.7142 - Low Dec 30
*SUP 2: $1.6921 - Low Dec 23 and key near-term support
*SUP 3: $1.6611 - Low Dec 16
*SUP 4: $1.6150 - Low Dec 11
RBOB if off recent highs but retains a bullish theme. Futures recently traded
through resistance at $1.6990, Nov 22 high. This confirmed a resumption of the
uptrend with price maintaining the bullish sequence of higher highs and higher
lows. Momentum studies are still trending higher, reinforcing current
conditions. The May highs have been cleared and attention turns to 1.8000 and a
Fibonacci projection at $1.8178. Support is at $1.6921.

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