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NYMEX HO (J19) Lacking Direction *RES.....>

OIL TECHS
OIL TECHS: NYMEX HO (J19) Lacking Direction
*RES 4: $2.2211 - Low Oct 25 
*RES 3: $2.2206 - High Nov 8 
*RES 2: $2.0769 - 200-dma 
*RES 1: $2.0479 - High Mar 1 
*PRICE: $1.9837 @ 15:15 GMT Mar 14 
*SUP 1: $1.9546/9455 - 100-dma/low Mar 8 
*SUP 2: $1.9311/9302 - 50-dma/High Feb 4 
*SUP 3: $1.8311 - Low Jan 28 
*SUP 4: $1.7659 - Low Nov 30 
Heating oil futures trade either side of the $2.0 level with bulls looking to
take out the March 1 high at $2.0479 to reignite upside momentum and target the
200-dma at $2.0769. Above here would resume the broader-based rally and open the
Nov 8 high at $2.2206. For a downside reversal bears look to take out Friday's
low at $1.9455 and bring the 100-dma back into view at $1.9546. Below here opens
the 50-dma/High Feb 4 at $1.9311/9302. 
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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