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

OIL TECHS
OIL TECHS: NYMEX HO (M20): Bulls Still In Control
*RES 4: $1.1602 - High Apr 2 and key resistance
*RES 3: $1.1136 - High Apr 9
*RES 2: $1.0651 - High Apr 13
*RES 1: $1.0286 - High May 18
*PRICE: $1.0216 @ 07:19 GMT May 19
*SUP 1:$0.9199 - High May 6 and former breakout level
*SUP 2: $0.8965 - Low May 15
*SUP 3: $0.8022 - Low May 6 and key near-term support
*SUP 4: $0.7769 - Low May 4
HO futures maintain a bullish theme. The recovery off $0.6724, Apr 28 low has
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,
May 6 high reinforcing the current bullish cycle. Currently, the contract is
testing the 50-day EMA at $101.63. A clear break would open 106.51 and 111.36.
Support is seen at $0.9199, the May 6 high.

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