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NYMEX RBOB (X19): Bull Trend Intact.......>

OIL TECHS
OIL TECHS: NYMEX RBOB (X19): Bull Trend Intact
*RES 4: $1.7526 - High Sep 16 and major resistance
*RES 3: $1.7096 - 1.00 projection of Oct 11 rally off Oct 14 low
*RES 2: $1.6971 - 76.4% retracement of Sep 16 - Oct 3 decline
*RES 1: $1.6882 - High Oct 28
*PRICE: $1.6690 @ 07:42 BST Oct 29
*SUP 1: $1.6355 - Low Oct 24
*SUP 2: $1.5833 - Low Oct 21 and key near-term support
*SUP 3: $1.5605 - Low Oct 10
*SUP 4: $1.5400 - Low Oct 8
RBOB maintains a bullish tone as prices extended gains again yesterday. The
recent breach of former resistance at 1.6474, Oct 11 high reinforces the bullish
outlook and confirms a price sequence of higher highs and higher lows, extending
the uptrend that began on Oct 3. $1.6628, 61.8% of Sep 16 - Oct 3 decline has
been cleared and attention is on the $1.6971, 76.4% retracement. Support lies at
$1.6355, Oct 24 low.

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