NYMEX HO (F20): Still Caught In A Range...>

OIL TECHS: NYMEX HO (F20): Still Caught In A Range

*RES 4: $2.0020 - High Nov 19

*RES 3: $1.9735 - 61.8% retracement of Sep 16 - Oct 3 decline

*RES 2: $1.9716 - High Nov 27

*RES 1: $1.9237 - High Dec 2

*PRICE: $1.8890 @ 07:34 GMT Dec 3

*SUP 1: $1.8750 - Low Nov 29

*SUP 2: $1.8441 - Low Nov 20 and a key support

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

*SUP 4: $1.7823 - Low Sep 3

HO sold off sharply Friday. This saw prices slip back into the broad range that

has been in place for just over a month. Last weeks focus was on a possible

bullish breakout. For this to return, prices will need to gradually reclaim

territory lost Friday and move towards $1.9600. The key resistance is at

$1.9716, Nov 27 high, a break would confirm a bullish range breakout. Weakness

below Friday's low of $1.8750 would instead expose $1.8441.