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OIL TECHS
OIL TECHS: NYMEX HO (N19): Focus Returning to the Downside
*RES 4: $1.9861/16 - 61.8% May fall/100-dma
*RES 3: $1.9438 - Low Mar 28, now resistance
*RES 2: $1.9196 - High May 31
*RES 1: $1.8564 - High June 3
*PRICE: $1.7945 @ 08:05 BST Jun 18
*SUP 1: $1.7717 - Low Jun 12
*SUP 2: $1.7527/19 - Low Jun 6/76.4% Dec-May rally
*SUP 3: $1.7402 - Low Jun 5
*SUP 4: $1.7257 - High Dec 26
After sliding in the North American afternoon session yesterday and following
continued failure of the $1.8426 level, focus has returned to the downside. The
$1.7717 is in focus now ahead of the $1.7401 low. With a break below $1.7402
opening the way to $1.7257 initially. Momentum indicators provide little in the
way of supportive signals currently, while trend indicators are still overall
negative.

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