NYMEX RBOB (M19) $2.0 Gives Way *RES.....>

OIL TECHS: NYMEX RBOB (M19) $2.0 Gives Way 

*RES 4: $2.3383 - High Oct 3 

*RES 3: $2.2039 - High Oct 17 

*RES 2: $2.1270 - 76.4% retracement of Oct-Dec decline 

*RES 1: $2.0969 - High Apr 25 

*PRICE: $1.9955 @ 05:51 GMT May 7 

*SUP 1: $1.9735/12 - Low April 16/Uptrend support from Feb lows 

*SUP 2: $1.9423 - 23.6% retracement of Dec-April rally

*SUP 3: $1.9016 - 200-dma 

*SUP 4: $1.8030 - Low Mar 28 

RBOB futures closed below the $2.0 level yesterday which brings the April 16 low

and uptrend support into focus at $1.9735/12. Below here would tip the balance

in favour of bears opening the 23.6% retracement at $1.9423 ahead of the

200-dma. Bulls need to recover $2.0 on a closing basis to sustain the uptrend

and return the focus to the April 25 at $2.0969. A break above here is needed to

open the 76.4% retracement of the Oct-Dec decline.