NYMEX RBOB (J20): Freefall *RES 4:........>

OIL TECHS: NYMEX RBOB (J20): Freefall

*RES 4: $1.5216 - High Mar 6

*RES 3: $1.4411 - Low Mar 2

*RES 2: $1.3480 - Low Mar 6

*RES 1: $1.2324 - Intraday high

*PRICE: $1.1524 @ 08:22 GMT Mar 9

*SUP 1: $1.0574 - Intraday low

*SUP 2: $1.0373 - 2.00 projection of Jan 8 - Feb 4 decline from Feb 20 high

*SUP 3: $1.0000 - Psychological round number

*SUP 4: $0.9469 - 2.236 projection of Jan 8 - Feb 4 decline from Feb 20 high

RBOB suffered a sharp sell-off overnight. The move lower has again confirmed a

resumption of this year's downtrend paving the way for more weakness. The focus

is on $1.0373, a Fibonacci projection and $1.0000. Note that today's price

action has caused a $1.2324 - $1.3840 gap on daily charts and it would not be a

surprise to see the market fill this gap. Whether that happens in the near-term

or at a later date remains to be seen. Heavy!