NYMEX RBOB (H20): Probes Key Resistance...>

OIL TECHS: NYMEX RBOB (H20): Probes Key Resistance

*RES 4: $1.6903 - High Jan 14 and a key resistance

*RES 3: $1.6534 - High Jan 22

*RES 2: $1.5860 - High Jan 24

*RES 1: $1.5534 - High Feb 10 and intraday bull trigger

*PRICE: $1.5353 @ 07:31 GMT Feb 11

*SUP 1: $1.4674 - Low Feb 6

*SUP 2: $1.4345 - Low Feb 4 and key support

*SUP 3: $1.4311 - Low Sep 3

*SUP 4: $1.4207/08 - Low Jun 5 / Low Aug 7 and major support

RBOB bounced last week off the Jan 4 low of $1.4345 and yesterday, price action

traded above resistance at $1.5461, the Jan 29 high. Whether this move higher

develops into a stronger reversal will depend on an ability to extend the recent

recovery. A break of yesterday's $1.5534 high would be an encouraging sign for

short-term bulls. This would open $1.5860 next, the Jan 24 high. On the

downside, initial support is at $1.4674 ahead of the key level at $1.4345.