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

OIL TECHS: NYMEX RBOB (K20): Positive Theme Still 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: $0.7172 @ 07:48 BST Apr 20

*SUP 1: $0.6565 - Low Apr 13

*SUP 2: $0.6252 - Low Apr 8 and key near-term support

*SUP 3: $0.5671 - Low Apr 2

*SUP 4: $0.5090 - Low Apr 1

RBOB outlook is still 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 recent breach 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.