NYMEX HO (G19) Focus Back On 21-DMA.......>

OIL TECHS: NYMEX HO (G19) Focus Back On 21-DMA

*RES 4: $2.1074 - 200-dma (continuation chart) 

*RES 3: $2.0430 - Prior range lows, now resistance (continuation chart) 

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

*RES 1: $1.9295 - High Jan 31 

*PRICE: $1.8768 @ 05:53 GMT Feb 1 

*SUP 1: $1.8732 - 21-dma (continuation chart) 

*SUP 2: $1.7843 - Low Nov 30 (continuation chart) 

*SUP 3: $1.6424 - Low Jan 02 

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

Heating Oil has failed to sustain its break above range highs bringing the 21dma

back into play. A close below this level would reignite bearish momentum and

open the Nov 30 low at $1.7834 ahead of the Jan 2 low at $1.6424. Bulls need to

recover yesterday's high at $1.9295 to regain control. Above here would extend

the recovery and trigger an inverse head and shoulders pattern, initially

targeting the Dec 7 highs ahead of the July 18 lows.