NYMEX RBOB (M19) Bulls Defend 200-DMA.....>

OIL TECHS: NYMEX RBOB (M19) Bulls Defend 200-DMA

*RES 4: $2.0969 - High Apr 25 

*RES 3: $2.0854 - High May 17 

*RES 2: $2.0214 - High May 22 

*RES 1: $1.9889 - 21-dma 

*PRICE: $1.9410 @ 03:06 GMT May 30 

*SUP 1: $1.9002/8940 - May 23 low/200-dma 

*SUP 2: $1.8467/8408 - 38.2% retracement/100-dma 

*SUP 3: $1.8031 - Low March 28 

*SUP 4: $1.7695 - 50% retracement of Dec-Apr rally

RBOB futures held above the May 23 low and 200-dma at $1.9002/8940 yesterday

despite a test of this area, keeping the near term outlook neutral. Bears need a

break below here to open 38.2% retracement of the Dec-April rally at $1.8467 and

the 100-dma at $1.8408. Upside focus remains on the 21-dma which sits at

$1.9889. Above here would put the focus back on the May 22 high at $2.0214 ahead

of the May 17 high at $2.0854.