NYMEX RBOB (G20): Bear Flag *RES 4:.......>

OIL TECHS: NYMEX RBOB (G20): Bear Flag

*RES 4: $1.7343 - 61.8% retracement of the Jan 8 - Jan 15 decline

*RES 3: $1.7136 - 50.0% retracement of the Jan 8 - Jan 15 decline

*RES 2: $1.6888 - Low Dec 31

*RES 1: $1.6851 - High Jan 14

*PRICE: $1.6537 @ 06:57 GMT Jan 20

*SUP 1: $1.6262 - Low Jan 15

*SUP 2: $1.6222 - 50% retracement of the Oct 3 - Jan 8 rally

*SUP 3: $1.6150 - Low Dec 11

*SUP 4: $1.5800 - 61.8% retracement of the Oct 3 - Jan 8 rally

RBOB is consolidating and remains bearish following the sharp sell-off on Jan 8.

Price also traded below support at $1.6888, Dec 31 low to effectively suggest a

clear reversal of the Oct 3 - Jan 8 uptrend. Furthermore, recent consolidation

appears to be a bear flag, signalling an eventual break lower. The focus on

$1.6222, a retracement level and $1.6150, Dec 11 low. Resistance is seen at

$1.6851.