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NYMEX HO (M19) Challenging Feb lows.......>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Challenging Feb lows
*RES 4: $2.1377 - High May 16
*RES 3: $2.0492 - 200-dma
*RES 2: $1.9915 - 100-dma
*RES 1: $1.9382 - Low Mar 28, now resistance
*PRICE: $1.9000 @ 06:05 GMT May 31
*SUP 1: $1.8915 - Low Feb 12
*SUP 2: $1.8901 - 50% retracement of Dec-May rise
*SUP 3: $1.8765 - Low Feb 7
*SUP 4: $1.8316 - 61.8% retracement of Dec-May rise
Heating oil futures extended the downtrend to $1.9000 and keeps the recent
downtrend intact. This brings the Feb 12 low back into view at $1.8915, ahead of
the 50% fibo of the Dec-May rise at $1.8901. Bulls need to recover the Mar 28
low to stabilise the outlook, returning the focus to the 100 & 200-dma's at
$1.9915/2.0492.

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