NYMEX RBOB: (X18) $1.80 Giving Way *RES...>

OIL TECHS: NYMEX RBOB: (X18) $1.80 Giving Way

*RES 4: $2.1500 - High Oct 3 

*RES 3: $2.1000 - High Oct 9 

*RES 2: $1.9900 - High Oct 17 

*RES 1: $1.8863 - 200-dma 

*PRICE: $1.7988 @ 05:46 GMT 

*SUP 1: $1.8000 - Support 

*SUP 2: $1.7396 - Low Apr 4 

*SUP 3: $1.6482 - Low Mar 2 

*SUP 4: $1.6268 - Low Feb 14 

RBOB futures are edging below the $1.80 level which has held firm over the past

two days on a closing basis. A successful close below here would add fuel to the

already-bearish trend, with the next downside target coming in at at the Apr 4

low at $1.7396. Bulls need to quickly regain the 200-dma at $1.8863 to take the

pressure off and attempt to stabilize the outlook before further chart damage is

done.