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NYMEX HO (K19) Upside Momentum Gathers....>

OIL TECHS
OIL TECHS: NYMEX HO (K19) Upside Momentum Gathers
*RES 4: $2.1837 - High Nov 8 
*RES 3: $2.1108 - 61.8% Retracement 
*RES 2: $2.0599 - Low Aug 16 
*RES 1: $2.0472 - 200-dma 
*PRICE: $2.0498 @ 05:49 GMT Apr 8 
*SUP 1: $1.9369/9261 - Low Mar 22/High Feb 4 
*SUP 2: $1.8998 - 100-dma 
*SUP 3: $1.8595 - Low Feb 7 
*SUP 4: $1.8197 - Low Jan 28 
Heating oil futures have extended their gains to fresh ytd highs with bulls now
looking for a close above the 200-dma at $2.0472. Above here would open the Aug
16 low at $2.0599 ahead of the 61.8% retracement of the Oct-Dec decline at
$2.1108. Bears look for a move back below the March 22 low/Feb 4 high at
$1.9369/9261 and the 100-dma at $1.8998 to suggest a downside reversal.

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