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NYMEX RBOB (Z19): Recover Mode *RES 4:....>

OIL TECHS
OIL TECHS: NYMEX RBOB (Z19): Recover Mode
*RES 4: $1.7196 - High Sep 16 and primary resistance
*RES 3: $1.7000 - Round number resistance
*RES 2: $1.6987 - Bull channel top drawn off Oct 3 low
*RES 1: $1.6798 - High Nov 4
*PRICE: $1.6713 @ 07:11 GMT Nov 5
*SUP 1: $1.6091 - 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 rebounded sharply Friday to trade above former resistance at $1.6597, Oct
30 high and confirm a resumption of the uptrend that has been in place since Oct
3. Prices extended higher yesterday too, clearing the $1.6603 retracement level,
76.4% of Sep 16 - Oct 3 decline. The focus is gains towards $1.7196, Sep 16
high. Note too that Friday's rebound means trendline support drawn off Oct 3
low, remains intact. Key support has been defined at $1.5800.

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