NYMEX RBOB (N19): Bearish Signals.........>

OIL TECHS: NYMEX RBOB (N19): Bearish Signals Continue, But Major Support Awaits

*RES 4: $1.9281 - High May 24

*RES 3: $1.8736 - 200-dma

*RES 2: $1.8557 - High May 31

*RES 1: $1.7867 - High June 3

*PRICE: $1.6960 @ 05:47 GMT Jun 6

*SUP 1: $1.6625 - Low June 5

*SUP 2: $1.6088 - Low Dec 6

*SUP 3: $1.5823 - Low Jan 28

*SUP 4: $1.5273 - High Dec 26

RBOB futures have now registered 6 consecutive down days. Momentum indicators

are also continuing to give bearish signals, consistent with the downtrend

extending further before a pause. However, more substantial support awaits in

the $160.88 to $158.23 zone, which proved a major pivotal area late last

year/early this year. A move below this zone would be needed to put the focus on

$145.02 December lows.