NYMEX RBOB (H20): Strong Gains Likely.....>

OIL TECHS: NYMEX RBOB (H20): Strong Gains Likely To Extend

*RES 4: $1.6674 - 61.8% retracement of the Jan 8 - Feb 4 decline

*RES 3: $1.6534 - High Jan 22

*RES 2: $1.6229 - 50.0% retracement of the Jan 8 - Feb 4 decline

*RES 1: $1.6136 - High Feb 13

*PRICE: $1.5780 @ 09:47 GMT Feb 18

*SUP 1: $1.5086 - Low Feb 11

*SUP 2: $1.4674 - Low Feb 6

*SUP 3: $1.4345 - Low Feb 4 and key support

*SUP 4: $1.4311 - Low Sep 3

RBOB rallied sharply higher last Wednesday and confirmed a clear break of

resistance at $1.5461, the Jan 29 high. This follows a recovery off the Jan 4

low of $1.4345. Recent strong gains signal scope for an extension higher with

attention on $1.6229 next, a Fibonacci retracement level. On the downside,

support is seen at $1.5086, the Feb 11 low. A break would threaten the current

bullish tone.