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NYMEX HO (J19) Trend Of Lower Highs....>

US OIL CLOSE
US OIL CLOSE: NYMEX HO (J19) Trend Of Lower Highs Intact
*RES 4: $2.2206 - High Nov 8 
*RES 3: $2.0617 - 200-dma 
*RES 2: $2.0479 - High Mar 1 
*RES 1: $1.9950 - High Mar 15 
*PRICE: $1.9697 @ 04:31 GMT Mar 19 
*SUP 1: $1.9485 - Low March 15 
*SUP 2: $1.9455 - Low Mar 8 
*SUP 3: $1.9285/9302/9318 - 100-dma/High Feb 4/50-dma 
*SUP 4: $1.8311 - Low Jan 28 
Heating oil futures managed to remain above Friday's lows yesterday but the
trend of lower highs remains intact giving bears the near term edge. Bulls need
to close above Friday's high at $1.9950 to establish a near term higher high and
put the focus back on the March 1 high and the 200-dma. On the downside bears
target Friday's low at $1.9485 with a break opening the March 8 low at $1.9455.
Below here would open the 100-dma/High Feb 4/50-dma at $1.9285/9302/9318.

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