NYMEX RBOB: (K18) Bulls Need Close........>

OIL TECHS: NYMEX RBOB: (K18) Bulls Need Close Above $1.9982

*RES 4: $2.0331 - High Apr 2

*RES 3: $2.0206 - Hourly support Apr 2 now resistance

*RES 2: $1.9982 - Hourly resistance Apr 2

*RES 1: $1.9632 - Low Apr 5 now resistance

*PRICE: $1.9564 @ 0430GMT

*SUP 1: $1.9363 - Low Apr 3

*SUP 2: $1.9199 - Low Mar 16

*SUP 3: $1.8965 - Low Mar 14

*SUP 4: $1.8719 - Low Mar 13

*COMMENTARY: The aggressive sell-off and break of DMAs lacked follow through

Wednesday. The failure to break back above $1.9982 on the bounce has seen

pressure return to last week's $1.9363 low. Bears now look for a close below

this level to add weight to the case for a move back to $1.8425-1.8719 where the

200-DMA, Feb & Mar lows are located. Bulls need a close above $1.9982 to gain

breathing room and above $2.0545 to shift focus back to $2.0889-1012.