NYMEX RBOB (N19): Bullish reversal........>

OIL TECHS: NYMEX RBOB (N19): Bullish reversal confirmed last week

*RES 4: $2.0011 - High May 21

*RES 3: $1.9696 - 76.4% retracement of the Apr 22-Jun 5 low

*RES 2: $1.9566 - High May 28

*RES 1: $1.9109 - 61.8% retracement of the Apr 22-Jun 5 low

*PRICE: $1.8867 @ 06:55 BST Jun 24

*SUP 1: $1.8656 - Intraday low

*SUP 2: $1.7646 - High Jun 11

*SUP 3: $1.6658 - Low Jun 18

*SUP 4: $1.6625 - Low Jun 5

RBOB bulls are still in control and gains have extended today. The move last

week through the $1.7646 resistance confirmed a bullish reversal. Momentum

studies are in a favourable condition too for bulls and rising. Furthermore,

Friday's strong rally further reinforced the bull tone. The focus is now on the

61.8% retracement of the Apr 22-Jun 5 decline at 2.0645-1.6625 decline at

$1.9109. A move through this level would open $1.9566 and $1.9696.