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NYMEX RBOB (J19) Uptrend Extends *RES.....>

OIL TECHS
OIL TECHS: NYMEX RBOB (J19) Uptrend Extends
*RES 4: $1.9266 - 200-dma 
*RES 3: $1.9000 - Triangle breakout target 
*RES 2: $1.8249 - High Nov 16 
*RES 1: $1.8160 - Channel top
*PRICE: $1.7939 @ 05:52 GMT Mar 7 
*SUP 1: $1.7800 - High Feb 22, now support
*SUP 2: $1.7124/29 - Mar 1 low/21-dma
*SUP 3: $1.6972 - Feb 26 low 
*SUP 4: $1.6562 - High Feb 4 
RBOB futures hit new ytd highs yesterday shifting the outlook firmly bullish and
opening the channel top at $1.8160 and the Nov 16 high just above it at $1.8249.
Above here would shift the focus to the triangle breakout target and the
200-dma. Bears now need to push back below the Feb 22 high to stabilise the
outlook before making a run at Friday's low at $1.7124 and the 21-dma at
$1.7129.

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