NYMEX RBOB (G20): Downtrend Resumes.......>

OIL TECHS: NYMEX RBOB (G20): Downtrend Resumes

*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: $1.6256 @ 07:01 GMT Jan 21

*SUP 1: $1.6222 - 50% retracement of the Oct 3 - Jan 8 rally

*SUP 2: $1.6150 - Low Dec 11

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

*SUP 4: $1.5622 - Low Dec 3 and a key support

RBOB remains bearish following the sharp sell-off on Jan 8 and has today

confirmed a resumption of the downtrend breaking support overnight at $1.6262,

Jan 15 low. The move lower paves the way for weakness towards $1.6222, a

retracement level and $1.6150, Dec 11 low. On the upside, resistance has been

defined at $1.6851, Jan 14 high where a break is required to ease bearish

pressure.