NYMEX RBOB (M19) Bears In Control *RES....>

OIL TECHS: NYMEX RBOB (M19) Bears In Control

*RES 4: $2.2039 - High Oct 17 

*RES 3: $2.1270 - 76.4% retracement of Oct-Dec decline 

*RES 2: $2.0969 - High Apr 25 

*RES 1: $2.0255 - 21-dma 

*PRICE: $1.9651 @ 02:35 GMT May 9 

*SUP 1: $1.9293 - Low May 7 

*SUP 2: $1.9004 - 200-dma 

*SUP 3: $1.8030 - Low Mar 28 

*SUP 4: $1.7695/7798 - 50% retracement of Dec-Apr rally/100-dma 

RBOB futures remains on the back foot following the break below the $2.0 level

with the focus now firmly on Tuesday's low at $1.9293. Below here would open the

200-dma at $1.9004 ahead of the March 28 low at $1.8030. Bulls need to recover

$2.0 on a closing basis as well as the 21-dma at $2.0255 to 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.