NYMEX RBOB (G20): Downtrend Set To........>

OIL TECHS: NYMEX RBOB (G20): Downtrend Set To Extend

*RES 4: $1.7290 - 61.8% retracement of the Jan 8 - Jan 21 decline

*RES 3: $1.7067 - 50.0% retracement of the Jan 8 - Jan 21 decline

*RES 2: $1.6888 - Low Dec 31

*RES 1: $1.6851 - High Jan 14

*PRICE: $1.6317 @ 07:49 GMT Jan 22

*SUP 1: $1.6123 - Low Jan 21

*SUP 2: $1.5800 - 61.8% retracement of the Oct 3 - Jan 8 rally

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

*SUP 4: $1.5517 - Low Oct 31

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

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

Jan 15 low. The move lower paves the way for weakness towards $1.5800 next, a

retracement level. On the upside, resistance has been defined at $1.6851, Jan 14

high where a break is required to ease bearish pressure.