NYMEX RBOB: (U18) Further Upside Likely...>

OIL TECHS: NYMEX RBOB: (U18) Further Upside Likely

*RES 4: $2.2467 - High May 22 

*RES 3: $2.1741 - High May 31 

*RES 2: $2.1531 - High July 10 

*RES 1: $2.1364 - High July 27

*PRICE: $2.0964 @ 0520GMT 

*SUP 1: $2.0523 - Low August 6 

*SUP 2: $2.0226 - Low August 2 

*SUP 3: $1.9715 - Low July 17 

*SUP 4: $1.9687 - 200-DMA 

RBOB has broken to the upside out of its two-day tight trading range and is

approaching key resistance at the July 27 high of $2.1362, a break of which

would add to the upside momentum and suggest a large bullish continuation

pattern is in play. On the downside, bears need to break below Monday's low of

$2.0523 to shift the focus lower towards the August 2 lows at $2.0226.