NYMEX RBOB (Z19): Bullish Outlook Holds...>

OIL TECHS: NYMEX RBOB (Z19): Bullish Outlook Holds

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

*RES 3: $1.7000 - Round number resistance

*RES 2: $1.6843 - High Nov 5 and bull trigger

*RES 1: $1.6550 - High Nov 15

*PRICE: $1.6429 @ 07:28 GMT Nov 18

*SUP 1: $1.5885 - Low Nov 8 and intraday bear trigger

*SUP 2: $1.5800 - Low Oct 31 and key support

*SUP 3: $1.5536 - Low Oct 23

*SUP 4: $1.5417 - Low Oct 21

RBOB consolidates but maintains a bullish outlook. A positive theme follows the

recovery in prices during October and the continued existence of a bullish price

sequence of higher highs and higher lows. Key support has been defined at

$1.5885, Nov 8 low which needs to hold to avoid a bearish threat developing. A

recovery would refocus attention on $1.6843, Nov 5 high where a break would

confirm a resumption of the uptrend and open $1.7196.