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NYMEX HO (F20): Uptrend Intact *RES 4:....>

OIL TECHS
OIL TECHS: NYMEX HO (F20): Uptrend Intact
*RES 4: $2.0782 - Sep 16 high and primary resistance
*RES 3: $2.0735 - 1.382 projection of Oct 3 - Oct 28 rally from Nov 20 low
*RES 2: $2.0493 - 1.236 projection of Oct 3 - Oct 28 rally from Nov 20 low
*RES 1: $2.0344 - High Dec 17
*PRICE: $2.0211 @ 07:04 GMT Dec 19
*SUP 1: $1.9734 - High Dec 6 and former breakout point
*SUP 2: $1.9553 - Low Dec 13
*SUP 3: $1.9160 - Low Dec 11
*SUP 4: $1.8693 - Low Dec 3 and key support
HO remains bullish holding onto most of its recent gains. 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 next, Sep 16 high and key
resistance. Support is seen at $1.9734, Dec 6 high.

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