NYMEX RBOB (N20): Bullish Focus *RES 4:...>

OIL TECHS: NYMEX RBOB (N20): Bullish Focus

*RES 4: $1.1592 - 1.764 projection of Apr 2 - Apr 9 rally from Apr 22 low

*RES 3: $1.1356 - High Mar 12

*RES 2: $1.1000 - Round number resistance

*RES 1: $1.0999 - High May 20 and bull trigger

*PRICE: $1.0049 @ 07:20 BST May 28

*SUP 1: $0.9881 - High May 11

*SUP 2: $0.9750 - 50-day EMA

*SUP 3: $0.9618 - 20-day EMA

*SUP 4: $0.9363 - Low May 15

RBOB futures maintain a bullish tone. On May 5 the contract traded through key

resistance at $0.9008, Apr 2 high. The break higher confirmed a short-term

reversal and signalled scope for a stronger corrective recovery. Last week,

price traded through the psychological $1.000 level further reinforcing the

current bullish wave. Attention is on $1.1000 next, a round number resistance

and $1.1323, Mar 12 high. Initial support is at $0.9881, May 11 high.