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NYMEX RBOB (Z19): Bullish Mode Intact.....>

OIL TECHS
OIL TECHS: NYMEX RBOB (Z19): Bullish Mode Intact
*RES 4: $1.7196 - High Sep 16 and primary resistance
*RES 3: $1.7084 - Bull channel top drawn off Oct 3 low
*RES 2: $1.7000 - Round number resistance
*RES 1: $1.6843 - High Nov 5
*PRICE: $1.6667 @ 06:59 GMT Nov 6
*SUP 1: $1.6152 - Trendline / channel support drawn off Oct 3 low
*SUP 2: $1.5800 - Low Oct 31
*SUP 3: $1.5536 - Low Oct 23
*SUP 4: $1.5417 - Low Oct 21 and key support
RBOB maintains a bullish tone following Friday's rebound and this weeks follow
through. The breach of former resistance at $1.6597, Oct 30 high confirms a
resumption of the uptrend that has been in place since Oct 3. The $1.6603
retracement level, 76.4% of Sep 16 - Oct 3 decline has also been cleared. The
focus for now is on gains towards $1.7196, Sep 16 high. Key support has been
defined at $1.5800. Trendline support lies at $1.6152.

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