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NYMEX RBOB (J19) $1.77 Proves Tough.......>

OIL TECHS
OIL TECHS: NYMEX RBOB (J19) $1.77 Proves Tough Resistance
*RES 4: $1.9284 - 200-dma 
*RES 3: $1.8249 - High Nov 16 
*RES 2: $1.7800 - High Feb 22 
*RES 1: $1.7700/7720 - High Mar 5/High Mar 1 
*PRICE: $1.7567 @ 05:38 GMT Mar 6 
*SUP 1: $1.7124 - Mar 1 low 
*SUP 2: $1.6972 - Feb 26 low 
*SUP 3: $1.7026 - 21-dma 
*SUP 4: $1.6562 - High Feb 4 
RBOB futures were unable to take out the March 1 highs yesterday with gains
capped at the $1.7700 level. Bulls now need to take out this level and the March
1 high at $1.7720 to bring the Feb 22 ytd high at $1.78 into focus. Above here
would extend the recovery towards the Nov 16 high. On the downside bears target
Friday's low at $1.7124 to open the Feb 26 low at $1.6972, with a break below
here opening the 21-dma at $1.7026.

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