NYMEX HO (G19) False Break Above Jan 11...>

OIL TECHS: NYMEX HO (G19) False Break Above Jan 11 High 

*RES 4: $2.1153 - 200-dma (continuation chart) 

*RES 3: $2.0518 - Prior range lows, now resistance (continuation chart) 

*RES 2: $1.9534 - High Dec 7 (continuation chart) 

*RES 1: $1.9265 - High Jan 21 

*PRICE: $1.8838 @ 05:55 GMT Jan 24 

*SUP 1: $1.8502 - Low Jan 15 

*SUP 2: $1.8094 - 21-dma (continuation chart) 

*SUP 3: $1.6424 - Low Jan 02 

*SUP 4: $1.5488 - Low Aug 17, 2017 (continuation chart) 

Heating Oil futures saw a brief break above the Jan 11 high yesterday but gains

were given back to keep the sideways range intact. A break above here would

extend the recovery and trigger a potential inverse head and shoulders pattern

initially targeting the Dec 7 highs ahead of prior range lows. To regain control

bears would need to close back below the Jan 15 low at $1.8502 ahead of the

21-dma at $1.8094.