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

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

*RES 4: $1.8114 - High Jan 8

*RES 3: $1.7952 - 50% retracement of the Apr 25 - Feb 4 decline (continuation)

*RES 2: $1.7060 - 200-dma (continuation chart)

*RES 1: $1.6903 - High Jan 14

*PRICE: $1.6312 @ 11:45 GMT Feb 21

*SUP 1: $1.6192 - High Feb 18

*SUP 2: $1.5564 - Low Feb 13

*SUP 3: $1.5086 - Low Feb 11

*SUP 4: $1.4674 - Low Feb 6

After significant moves higher on Wednesday, RBOB has given back some of these

gains. Near-term there may be a little more correction but bullish undertones

continue to apply. To the upside the Jan 14 high at $1.6903 and the 200-dma on

the continuation chart at $1.7060 both provide near-term focus. If we stay above

the high of Feb 18, the outlook will remain bullish overall.