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NYMEX HO: (J18) $1.9289 Resistance Key....>

OIL TECHS
OIL TECHS: NYMEX HO: (J18) $1.9289 Resistance Key This Week
*RES 4: $1.9289 - High Feb 8
*RES 3: $1.9005 - 100_DMA
*RES 2: $1.8885 - High Feb 12
*RES 1: $1.8661 - Hourly support Feb 12 now resistance
*PRICE: $1.8511 @ 0430GMT
*SUP 1: $1.8279 - Low Feb 12
*SUP 2: $1.8199 - Monthly Low Nov 2
*SUP 3: $1.7813 - Low Oct 25
*SUP 4: $1.7396 - 200-DMA
*COMMENTARY: Bears take comfort in the contract remaining capped ahead of the
100-DMA on Monday's bounce with focus remaining on the $1.8199 support. Bears
need a close below this level to add weight to the case for a test of the
200-DMA. Very O/S daily studies remain the key concern for bears. Bulls need a
close above $1.9289 to confirm a break of the 100-DMA and hint at a move back to
$2.0880-2.1098 with above $2.0346 to confirm.

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