NYMEX RBOB (K20): Corrective Gains........>

OIL TECHS: NYMEX RBOB (K20): Corrective Gains Still Seem Likely

*RES 4: $0.8789 - Low Mar 3

*RES 3: $0.8000 - Psychological round number resistance

*RES 2: $0.7906 - High Mar 17

*RES 1: $0.7697 - High Apr 9 and bull trigger

*PRICE: $0.7326 @ 07:52 BST Apr 16

*SUP 1: $0.6252 - Low Apr 8 and key near-term support

*SUP 2: $0.5671 - Low Apr 2

*SUP 3: $0.5090 - Low Apr 1

*SUP 4: $0.4605 - Low Mar 23 and primary support

RBOB outlook is unchanged. The S/T picture continues to highlight the potential

for gains following the recent recovery and a further unwinding of this year's

sharp losses. Furthermore, the technical condition has been oversold for some

time and gains would allow this to unwind. The break of $0.6690, high Mar 26

opens $0.7906, Mar 17 high and the psychological $0.8000 level. 0.7697 is the

bull trigger. Support is at $0.6252, Apr 8 low.