NYMEX RBOB (N20): Needle Still Points.....>

OIL TECHS: NYMEX RBOB (N20): Needle Still Points North

*RES 4: $1.4000 - Round number resistance

*RES 3: $1.3642 - Low Mar 6

*RES 2: $1.3072 - High Mar 9 and gap low on the daily chart

*RES 1: $1.2528 - 50.0% retracement of the Jan - Mar sell-off

*PRICE: $1.2132 @ 07:19 BST Jun 10

*SUP 1: $1.1417 - Low Jun 5

*SUP 2: $1.0999 - High May 20 and key near-term support

*SUP 3: $1.0712 - 20-day EMA

*SUP 4: $1.0660 - Low Jun 2

RBOB futures are unchanged and maintain a bullish tone. Price last week traded

above $1.0999, May 20 high. This brought to an end the recent consolidation and

importantly confirmed a resumption of the uptrend that has dominated since Mar

23. Also note that the $1.2000 handle has been cleared, reinforcing bullish

conditions. Initial firm support lies at $1.0999, May 20 high. Key trend support

though is at $0.9891, May 28 low.