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NYMEX HO (J19) Channel Resistance.........>

OIL TECHS
OIL TECHS: NYMEX HO (J19) Channel Resistance Breached
*RES 4: $2.2206 - High Nov 8 
*RES 3: $2.0610 - 200-dma 
*RES 2: $2.0479 - High Mar 1 
*RES 1: $2.0079 - Channel Top
*PRICE: $2.0047 @ 19:12 GMT Mar 20 
*SUP 1: $1.9740 - Pivotal Support 
*SUP 1: $1.9485 - Low March 15 
*SUP 2: $1.9455/9367 - Low Mar 8/50-dma 
*SUP 3: $1.9263/9302 - 100-dma/High Feb 4
*SUP 4: $1.8311 - Low Jan 28 
Heating oil futures are attempting to push higher through the upper boundary of
the descending channel developed since the beginning of the month. A close above
the channel at $2.0079 will confirm a bullish breakout, suggesting a resumption
of the uptrend. A move above the $2.0479 early March high will put the focus on
the 200-dma at the $2.0610 level. Near term pivotal support is place at $1.9740.

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