NYMEX HO (F20): Looking For A Range.......>

OIL TECHS: NYMEX HO (F20): Looking For A Range Breakout

*RES 4: $2.0782 - Sep 16 high and primary resistance

*RES 3: $2.0135 - 76.4% retracement of Sep 16 - Oct 3 decline

*RES 2: $2.0020 - High Nov 19

*RES 1: $1.9734/35 - High Dec 6 / 61.8% of Sep 16 - Oct 3 decline

*PRICE: $1.9505 @ 07:32 GMT Dec 11

*SUP 1: $1.9125 - Low Dec 5

*SUP 2: $1.8693 - Low Dec 3 and key support

*SUP 3: $1.8441 - Low Nov 20

*SUP 4: $1.8042 - Low Oct 3 and primary support

HO was firmer Friday and did probe the key resistance at $1.9716, Nov 27 high. A

break above Friday's high of $1.9734 would confirm a clear range breakout and

also confirm a resumption of the recovery that began off the Oct 3 low. Note too

that a break higher would confirm a breach of the 61.8% retracement of the Sep

16 to Oct 3 decline at $1.9735. This would open the $2.0135, 76.4% retracement.

Initial support lies at $1.9125.