NYMEX RBOB (G20): Further Downside........>

OIL TECHS: NYMEX RBOB (G20): Further Downside Likely

*RES 4: $1.7353 - 61.8% retracement of yesterday's range

*RES 3: $1.7150 - 50.0% retracement of yesterday's range

*RES 2: $1.6888 - Low Dec 31

*RES 1: $1.6695 - 23.6% retracement of yesterday's range

*PRICE: $1.6595 @ 07:25 GMT Jan 10

*SUP 1: $1.6289 - Low Jan 8

*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 has been extremely volatile this week with futures trading sharply lower

off Wednesday's high of $1.8011. Significantly, price also traded below support

at $1.6888, Dec 31 low and this effectively suggests a top has been put in place

for now with the technical outlook signalling scope for a deeper pullback

near-term. A break of Wednesday's low of $1.6289 would open $1.6222, a

retracement level and $1.6150, Dec 11 low. Resistance is seen at $1.6888.