NYMEX RBOB (V19): Looking for a bearish...>

OIL TECHS: NYMEX RBOB (V19): Looking for a bearish break

*RES 4: $1.7962 - High Jul 11

*RES 3: $1.7785 - High Sep 16

*RES 2: $1.7246 - 61.8% of the decline from Sep 16 high to Sep 18 low

*RES 1: $1.7128 - High Sep 20

*PRICE: $1.6878 @ 06:35 BST Sep 23

*SUP 1: $1.6370 - Low Sep16

*SUP 2: $1.6208 - High Sep 11 and initial gap low

*SUP 3: $1.5815 - High Sep 12

*SUP 4: $1.5643 - High Sep 13 and gap low

RBOB pulled back Friday but remains in a range. Near-term bearish pressure is

expected to dominate and attention is on $1.6208, Sep 11 high. A print of this

level would fill an initial gap in the chart. A deeper sell-off would open

$1.5643, Sep 13 high to fill the entire gap in the chart created by the sharp

spike on Sep 16. The trigger for a resumption of weakness is $1.6370. Friday's

high of $1.7128 marks initial resistance.