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OIL TECHS: NYMEX HO (M20): Looking For Gains
*RES 4: $0.9883 - High Apr 20
*RES 3: $0.9507 - Low Apr 1
*RES 2: $0.9496 - High Apr 21
*RES 1: $0.9199 - High May 6 and bull trigger
*PRICE: $0.8955 @ 07:16 GMT May 11
*SUP 1: $0.8022 - Low May 6
*SUP 2: $0.7769 - Low May 4 and key near-term support
*SUP 3: $0.7033 - Low Apr 29
*SUP 4: $0.6724 - Low Apr 28 and key support
HO stalled last Wednesday at $0.9199. Despite the recent pullback, a bullish
theme remains in place. 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 reinforcing the current bullish cycle. Attention is on
$0.9496, Apr 21 high and potentially $1.000 further out. Firm support is seen at
$0.7769, low May 4.