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NYMEX HO (M20): Bulls In Firm Control.....>

OIL TECHS
OIL TECHS: NYMEX HO (M20): Bulls In Firm Control
*RES 4: $1.0168 - 50-day EMA
*RES 3: $1.0058 - High Apr 17
*RES 2: $1.0000 - psychological round number
*RES 1: $0.9883 - High Apr 20
*PRICE: $0.9506 @ 07:15 GMT May 18
*SUP 1: $0.8965 - Low May 15
*SUP 2: $0.8022 - Low May 6 and key near-term support
*SUP 3: $0.7769 - Low May 4
*SUP 4: $0.7033 - Low Apr 29
HO futures maintain a bullish theme. The recovery off $0.6724, Apr 28 low
resulted in a break of resistance at $0.8632, Apr 23 high. Furthermore, futures
have managed to clear the 20-day EMA and also the former resistance at $0.9199,
the May 6 high reinforcing the current bullish cycle. Attention is on $0.9883,
Apr 20 high and $1.000 further out. Support is seen at $0.8965, the May 15 low.

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