NYMEX RBOB (G20): Uptrend Still Intact....>

OIL TECHS: NYMEX RBOB (G20): Uptrend Still Intact

*RES 4: $1.9000 - Round number resistance

*RES 3: $1.8781 - 1.236 projection of Oct 3 - Nov 22 rally from Dec 3 low

*RES 2: $1.8178 - 1.00 projection of Oct 3 - Nov 22 rally from Dec 3 low

*RES 1: $1.8011 - Intraday high

*PRICE: $1.7343 @ 07:22 GMT Jan 8

*SUP 1: $1.7057 - Low Jan 7

*SUP 2: $1.6888 - Low Dec 31 and key near-term support

*SUP 3: $1.6611 - Low Dec 16

*SUP 4: $1.6150 - Low Dec 11

RBOB rallied higher overnight before selling off sharply. Price action remains

volatile however despite this volatility, a bullish outlook is maintained.

Friday saw futures trade above the recent high of $1.7656, Dec 27 high. This

confirms a resumption of the uptrend that has been in place since the early Oct

lows and maintains the bullish price sequence of higher highs and higher lows.

The focus is on $1.8178, a Fibonacci projection. Key support is at $1.6888.