NYMEX RBOB (M19) Back Below $2.0 *RES....>

OIL TECHS: NYMEX RBOB (M19) Back Below $2.0 

*RES 4: $2.1270 - 76.4% retracement of Oct-Dec decline 

*RES 3: $2.0969 - High Apr 25 

*RES 2: $2.0854 - High May 17 

*RES 1: $2.0214 - High May 22 

*PRICE: $1.9920 @ 02:47 GMT May 23 

*SUP 1: $1.9640/9557 - Low May 22/55-dma 

*SUP 2: $1.9264 - Low May 7 

*SUP 3: $1.8964 - 200-dma 

*SUP 4: $1.8031 - Low March 28

RBOB futures dipped as low as $1.9640 yesterday before finding some support but

the close below the $2.0 handle keeps the focus on the downside. Bears now look

for a close below yesterday's low and the 55-dma at $1.9640/9557 to cement the

downtrend towards the May 7 low at $1.9264. Bulls need to close back above $2.0

and recover yesterday's high at $2.0214 to target Friday's high at $2.0854.

Above here would shift the focus back to the April 25 ytd high at $2.0969.