NYMEX HO (F20): Bullish Focus *RES 4:.....>

OIL TECHS: NYMEX HO (F20): Bullish Focus

*RES 4: $2.1127 - 1.50 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 3: $2.0782 - Sep 16 high and primary resistance

*RES 2: $2.0735 - 1.382 projection of Oct 3 - Oct 28 rally from Nov 20 low

*RES 1: $2.0493 - 1.236 projection of Oct 3 - Oct 28 rally from Nov 20 low

*PRICE: $2.0146 @ 08:44 GMT Dec 23

*SUP 1: $2.0028 - Low Dec 17

*SUP 2: $1.9734 - High Dec 6 and former breakout point

*SUP 3: $1.9553 - Low Dec 13

*SUP 4: $1.9160 - Low Dec 11

HO remains bullish despite pulling back Friday. The contract recently cleared

key resistance at $1.9716, Nov 27 high. This confirmed a clear range breakout

and a resumption of the recovery that began off the Oct 3 low. The break higher

has also confirmed a breach of the 76.4% retracement of the Sep 16 to Oct 3

decline at $2.0135. This opens the $2.0782 level next, Sep 16 high and key

resistance. Initial support is seen at $2.0028, Dec 17 low.