NYMEX RBOB (G20): Remains Vulnerable......>

OIL TECHS: NYMEX RBOB (G20): Remains Vulnerable

*RES 4: $1.7353 - 61.8% retracement of the Jan 8 range

*RES 3: $1.7150 - 50.0% retracement of the Jan 8 range

*RES 2: $1.6888 - Low Dec 31

*RES 1: $1.6851 - High Jan 14

*PRICE: $1.6571 @ 07:25 GMT Jan 15

*SUP 1: $1.6289 - Low Jan 8 and intraday bear trigger

*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 still consolidating but also likely to remain soft following last week's

sharp sell-off from Wednesday's $1.8011 high. Price 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 $1.6289, Jan 8 low would open $1.6222, a retracement level

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