NYMEX RBOB (Z19): Bulls Still In Charge...>

OIL TECHS: NYMEX RBOB (Z19): Bulls Still In Charge

*RES 4: $1.7561 - 1.618 projection of Oct 3 - Oct 14 rally from Oct 21 low

*RES 3: $1.7248 - 1.382 projection of Oct 3 - Oct 14 rally from Oct 21 low

*RES 2: $1.7196 - High Sep 16 and primary resistance

*RES 1: $1.7093 - High Nov 22

*PRICE: $1.6722 @ 07:25 GMT Nov 25

*SUP 1: $1.6431 - Low Nov 21

*SUP 2: $1.5868 - Low Nov 20 and intraday bear trigger

*SUP 3: $1.5800 - Low Oct 31 and key support

*SUP 4: $1.5536 - Low Oct 23

RBOB is bullish following last weeks sharp rally of the Nov 20 low. The sharp

recovery resulted in a breach of key resistance $1.6843, Nov 5 high and the

former bull trigger. This has confirmed a resumption of the uptrend that has

been in place since Oct 3 and attention turns to $1.7196, Sep 16 high and the

primary resistance. Key support has been defined at $1.5868, Nov 21 low. Initial

support lies at $1.6431, Thursday's low.