NYMEX RBOB (K20): Positive Theme..........>

OIL TECHS: NYMEX RBOB (K20): Positive Theme Remains Intact

*RES 4: $0.8789 - Low Mar 3

*RES 3: $0.8000 - Psychological round number resistance

*RES 2: $0.7906 - High Mar 17

*RES 1: $0.7749 - High Apr 16 and bull trigger

*PRICE: $0.7028 @ 07:38 BST Apr 17

*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

possibility of further gains to extend the recovery that has been in place since

Mar 23. 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. 0.7749 is the bull

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