NYMEX RBOB (U19): Bearish theme...........>

OIL TECHS: NYMEX RBOB (U19): Bearish theme dominates

*RES 4: $1.7516/52 - 50-day EMA / Trendline resistance drawn off the Jul 11 high

*RES 3: $1.7456 - High Aug 13 and directional trigger

*RES 2: $1.7166 - Aug 21 high

*RES 1: $1.6708 - High Aug 23

*PRICE: $1.6392 @ 07:20 BST Aug 26

*SUP 1: $1.6215 - Low Aug 23

*SUP 2: $1.6111 - Low Aug 7 and key support

*SUP 3: $1.6062 - Low Jun 5

*SUP 4: $1.5794 - 1.00 projection of Apr 22-Jun 5 decline off Jul 11 high

RBOB directional parameters exist at $1.6111 - $1.7456 with a neutral to bearish

tone in place for now. For bulls, a break of 1.7456, the Aug 13 high would be

encouraging. This would open $1.7516 initially, the 50-day EMA and trendline

resistance at $1.7552, drawn off the Jul 11 high. A Failure to hold above

support at $1.6111 would confirm a resumption of the downtrend and open $1.6062

and $1.5794. For choice, a move lower appears more likely.