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: $1.6849 @ 08:05 BST 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

After failing to break out higher above the recent trading range at the end of

last week, RBOB futures reversed their gains yesterday. A decline below $1.6989

has given renewed impetus to bears with focus now turning to a test of the more

important $1.6750 support. Below here the $1.6625 early June low remains key,

with the potential to extend the downtrend. A break above $1.7867 is needed to

improve the technical picture.