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NYMEX RBOB: (U18) Key Support Area........>

OIL TECHS
OIL TECHS: NYMEX RBOB: (U18) Key Support Area Giving Way
*RES 4: $2.1741 - High May 31 
*RES 3: $2.1531 - High July 10 
*RES 2: $2.1364 - High July 27 
*RES 1: $2.0985 - High August 8 
*PRICE: $1.9741 @ 03:53 GMT 
*SUP 1: $1.9671 - Low August 16 
*SUP 2: $1.9061 - Low April 6 
*SUP 3: $1.8152 - Low March 2 
*SUP 4: $1.7847 - Low February 
RBOB continues to underperform the oil oil benchmarks with the Sep-18 contract
edging below its 200-dma support level and channel base in what appears to be a
significant change in the medium-term trend. A close below $1.9671 would confirm
this bearish break, putting the focus on the April 6 low at $1.9061. Rebounds
are likely to meet initial resistance at $202.41, but gains above $2.0985 are
needed to improve the outlook.

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