NYMEX RBOB (Z19): Consolidating *RES 4:...>

OIL TECHS: NYMEX RBOB (Z19): Consolidating

*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: $1.6217 @ 07:27 GMT Nov 19

*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 continues to consolidate. A positive theme however remains intact and

follows the recovery in prices during October that maintains the 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.