NYMEX RBOB (Q19): Bear flag still in......>

OIL TECHS: NYMEX RBOB (Q19): Bear flag still in play

*RES 4: $2.0378 - High Jul 11 and key resistance

*RES 3: $2.0005 - High Jul 12

*RES 2: $1.9490 - High Jul 16

*RES 1: $1.8949 - High Jul 18

*PRICE: $1.8765 @ 06:44 BST Jul 30

*SUP 1: $1.8208 - Low Jul 18 and bear trigger

*SUP 2: $1.7882 - 61.8% retracement of the rally between Jun 5-Jul 11

*SUP 3: $1.7493 - Low Jun 21

*SUP 4: $1.7292 - 76.4% retracement of the rally between Jun 5-Jul 11

RBOB is little changed. It remains bearish following the sharp sell-off between

Jul 11-Jul 18. This reversed the uptrend that had been in place since the low of

Jun 5. Former support at $1.8623, the Jul 3 low was also breached reinforcing

the bearish tone. The break opens $1.7882, 61.8% of the rally between Jun 5-Jul

11. Recent activity appears to be taking the shape of a bear flag formation, a

bearish pattern. Initial resistance is seen at $1.8949.