NYMEX RBOB (Q19): Remains vulnerable for now....>

OIL: NYMEX RBOB (Q19): Remains vulnerable for now

*RES 4: $2.0378 - High Jul 11 and bull trigger

*RES 3: $2.0005 - High Jul 12

*RES 2: $1.9490 - High Jul 16

*RES 1: $1.9208 - High Jul 17

*PRICE: $1.8559 @ 06:56 BST Jul 19

*SUP 1: $1.8208 - Low Jul 18

*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 bearish following this weeks sharp sell-off. This negated the bullish

implications of last weeks gains. Former support at $1.8623, the low of Jul 3

has been breached reinforcing the bearish tone. The break opens $1.7882, the

61.8% retracement of the rally between Jun 5-Jul 11. Initial resistance for now

is seen at $1.9208. Prices need to regain the $1.9500 area to relieve the

current bearish pressure.