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NYMEX HO (M19) Friday's Low Holds For.....>

OIL TECHS
OIL TECHS: NYMEX HO (M19) Friday's Low Holds For Now
*RES 4: $2.1910 - Channel top 
*RES 3: $2.1377 - High May 16 
*RES 2: $2.0850 - High May 21 
*RES 1: $2.0344/84 - 200-dma/55-dma 
*PRICE: $1.9722 @ 02:59 GMT May 30 
*SUP 1: $1.9430 - Low May 24 
*SUP 2: $1.9417/1.9399/1.9381 - Low Mar 28/Low Mar 8/38.2% retracement 
*SUP 3: $1.8765 - 50% retracement of Dec-May gains 
*SUP 4: $1.8236 - Low Jan 28 
Heating oil futures found some support just ahead of Friday's low at $1.9430
yesterday before mounting a modest recovery but the focus remains on the
downside. A break below Friday's low would open the $1.9417/1.9399/1.9381 area
marking the Mar 28 low/Mar 8 low/38.2% retracement of the Dec-May rally. Bulls
need a break above the 200/55-dmas at $2.0344/84 to return the focus to the May
21 high at $2.0850 ahead of the May 16 contract high at $2.1377.

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