NYMEX HO (G19) Recovery Intact *RES 4:....>

OIL TECHS: NYMEX HO (G19) Recovery Intact

*RES 4: $2.1100 - 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: $1.8995 @ 05:50 GMT Jan 30 

*SUP 1: $1.8584 - 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 have seen an upside reversal after their false break below the

21dma, which puts the focus back on the Jan 21 high at $1.9265. A break above

here would extend the recovery and trigger an inverse head and shoulders

pattern, initially targeting the Dec 7 highs. Bears need a close below the 21dma

at $1.8584 to shift the outlook and open the Nov 30 low at $1.7834 ahead of the

Jan 2 low at $1.6424.