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

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.