NYMEX RBOB (G20): Bears Still In..........>

OIL TECHS: NYMEX RBOB (G20): Bears Still In Control

*RES 4: $1.6711 - High Jan 21

*RES 3: $163.92 - High Jan 22

*RES 2: $1.5739 - High Jan 24

*RES 1: $1.5052 - Yesterday's high

*PRICE: $1.4828 @ 07:13 GMT Jan 28

*SUP 1: $1.4360 - Low Jan 27

*SUP 2: $1.4148 - Low Sep 3

*SUP 3: $1.4100 - Low Aug 7

*SUP 4: $1.4000 - Round number support

RBOB remains bearish following the sharp sell-off on Jan 8. Furthermore, steep

losses last week confirmed a resumption of the downtrend following the break on

Jan 21 of former support at $1.6262, Jan 15 low. Futures traded lower again

yesterday probing key support at $1.4434, the Oct 3 low. A clear break of this

level would open $1.4148, Sep 3 low. On the upside, initial resistance is at

$1.5052, yesterday's high.