NYMEX RBOB (J19) Recovery Extends to......>

OIL TECHS: NYMEX RBOB (J19) Recovery Extends to New YTD Highs

*RES 4: $2.0000 - June/July Lows/61.8% retracement

*RES 3: $1.9500 - Inverse head and shoulders target

*RES 3: $1.9210 - 200-dma 

*RES 1: $1.8886 - 50% retracement of Oct-Dec decline

*PRICE: $1.8303 @ 05:53 GMT Mar 12 

*SUP 1: $1.7393/7414 - Low Mar 8/21-dma 

*SUP 2: $1.7124 - Mar 1 low 

*SUP 3: $1.6972 - Feb 26 low 

*SUP 4: $1.6562 - High Feb 4 

RBOB futures hit fresh ytd highs yesterday and remain on the front foot today as

the 50% retracement level comes into focus at $1.8886. Above here would bring

the 200-dma into focus at $1.9210 ahead of the inverse head and shoulders target

at $1.9500. Bears now need to push back below Friday's low and the 21-dma at

$1.7393/7414. Below here would shift the outlook negative and open the March 1

low at $1.7127.