NYMEX RBOB (X19): Upside Extension *RES...>

OIL TECHS: NYMEX RBOB (X19): Upside Extension

*RES 4: $1.7096 - 1.00 projection of Oct 11 rally off Oct 14 low

*RES 3: $1.6971 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 2: $1.6824 - High Sep 19 and key resistance

*RES 1: $1.6708 - High Oct 24

*PRICE: $1.6561 @ 07:48 BST Oct 25

*SUP 1: $1.5833 - Low Oct 21

*SUP 2: $1.5605 - Low Oct 10

*SUP 3: $1.5400 - Low Oct 8

*SUP 4: $1.5175 - Low Oct 3 and key support

RBOB rallied again yesterday to extend this weeks gains above resistance at

1.6474, Oct 11 high. The breach reinforces the bullish outlook maintaining, the

price sequence of higher highs and higher lows and extends current uptrend that

began on Oct 3. The $1.6628, 61.8% of Sep 16 - Oct 3 decline has been achieved

and attention turns to $1.6971, the 76.4% retracement. Initial support has been

defined at 1.5833, Oct 21 low.