NYMEX HO (G19) Jan 11 High The Upside.....>

OIL TECHS: NYMEX HO (G19) Jan 11 High The Upside Target

*RES 4: $2.1229 - 200-dma 

*RES 3: $2.1000 - Prior range lows, now resistance 

*RES 2: $1.9443 - High Dec 7 

*RES 1: $1.9226 - High Jan 11

*PRICE: $1.8700 @ 05:55 GMT Jan 16 

*SUP 1: $1.7747 - 21-dma 

*SUP 2: $1.6380 - Low Dec 26 

*SUP 3: $1.5489 - Low Aug 17, 2017 (continuation chart) 

*SUP 4: $1.3563 - Low June 21, 2017 (continuation chart) 

The correction in Heating Oil futures has been shallow keeping the focus on the

Jan 11 high at $1.9226. A break above here would trigger an potential inverse

head and shoulders pattern, targeting the Dec 7 highs which sit at $1.9443 and

beyond. Bears need to close back below the 21-dma at $1.7747 to shift the

outlook bearish and open the Dec 26 low at $1.6380.