NYMEX RBOB (N19): Renewed Negative........>

OIL TECHS: NYMEX RBOB (N19): Renewed Negative Signals

*RES 4: $1.8631 - 200-dma 

*RES 3: $1.8557 - High May 31

*RES 2: $1.8365 - 100-dma 

*RES 1: $1.7867 - High June 3 

*PRICE: $1.7263 @ 06:34 GMT Jun 17

*SUP 1: $1.6750 - Low Jun 13

*SUP 2: $1.6625 - Low Jun 5

*SUP 3 :$1.6088 - Low Dec 6

*SUP 4: $1.5952/5823 - 76.4% Dec-Apr rally/Low Jan 28 

RBOB futures failed to challenge the top end of the recent trading range,

triggering renewed negative signals. Momentum and trend indicators are negative.

A decline below $1.6989 will give a fresh near-term bearish signal, likely

triggering a test of the more important $1.6750 support. Below here returns the

focus to the $1.6625 early June low, with the potential to extend the downtrend.

A break above $1.7867 is needed to improve the technical picture.