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OIL TECHS: NYMEX RBOB (J19) Uptrend Intact
*RES 4: $1.9246 - 200-dma
*RES 3: $1.9000 - Triangle breakout target
*RES 2: $1.8249 - High Nov 16
*RES 1: $1.8160 - High Mar 7
*PRICE: $1.7883 @ 05:52 GMT Mar 8
*SUP 1: $1.7800 - High Feb 22, now support
*SUP 2: $1.7124/7206 - 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 but failed to overcome channel top
resistance at $1.8160. This level remains in focus though as the uptrend remains
intact despite the pullback. Above here would open the Nov 16 high at $1.8249
ahead of 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 the
21-dma at $1.7206 and Friday's low at $1.7124.