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

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

*RES 4: $1.6903 - High Jan 14

*RES 3: $1.6674 - 61.8% retracement of the Jan 8 - Feb 4 decline

*RES 2: $1.6534 - High Jan 22

*RES 1: $1.6229 - 50.0% retracement of the Jan 8 - Feb 4 decline

*PRICE: $1.6195 @ 09:26 GMT Feb 19

*SUP 1: $1.5564 - Low Feb 13

*SUP 2: $1.5086 - Low Feb 11

*SUP 3: $1.4674 - Low Feb 6

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

RBOB has cleared another resistance level, the high of Feb 13 at $1.6136. Recent

strong gains signal scope for an extension higher with attention on $1.6229

next, the 50% Fibonacci retracement of the Jan 8 to Feb 4 decline. On the

downside, initial support is seen at $1.5564, the Feb 13 low. To threaten the

current bullish tone we would need to break below the Feb 11 low of $1.5086.