NYMEX RBOB (Z19): Bullish Focus *RES 4:...>

OIL TECHS: NYMEX RBOB (Z19): Bullish Focus

*RES 4: $1.7196 - High Sep 16 and major resistance

*RES 3: $1.6742 - 1.00 projection of Oct 14 rally off Oct 21 low

*RES 2: $1.6603 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 1: $1.6572 - High Oct 29

*PRICE: $1.6466 @ 07:38 BST Oct 30

*SUP 1: $1.6115 - Low Oct 25

*SUP 2: $1.5842 - Trendline support drawn off Oct 3 low

*SUP 3: $1.5536 - Low Oct 23

*SUP 4: $1.5417 - Low Oct 21

RBOB maintains a bullish tone as prices extended gains once again yesterday. The

recent breach of former resistance at 1.6007, Oct 14 high reinforced the bullish

outlook and confirmed a price sequence of higher highs and higher lows,

extending the uptrend that began on Oct 3. Attention is on the $1.6603, 76.4%

retracement of Sep 16 - Oct 3 decline. A break would open the Sep 16 high of

$1.7196. Support lies at $1.6115, Oct 25 low.