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OIL TECHS: NYMEX HO (J19) Buying The Dips
*RES 4: $2.2211 - Low Oct 25
*RES 3: $2.2206 - High Nov 8
*RES 2: $2.0779 - 200-dma
*RES 1: $2.0479 - High Mar 1
*PRICE: $2.0044 @ 05:39 GMT Mar 11
*SUP 1: $1.9455 - Low Mar 8
*SUP 2: $1.9302 - High Feb 4
*SUP 3: $1.8311 - Low Jan 28
*SUP 4: $1.7659 - Low Nov 30 (continuation chart)
Heating oil futures found some support ahead of the Feb 4 highs on Friday
allowing intraday weakness to prove short lived and return the focus to the
March 1 high at $2.0479. Above here would open the 200-dma at $2.0779 ahead of
the Nov 8 high. For a downside reversal bears look to take out Friday's low at
$1.9455 and the Feb 4 high at $1.9302. Below here would bring the Jan 28 lows