NYMEX HO (N19): Resumes uptrend, more.....>

OIL TECHS: NYMEX HO (N19): Resumes uptrend, more to follow

*RES 4: $2.0442 - 76.4% retracement of the May 16-Jun 5 decline

*RES 3: $2.0219 - High May 28, low May 7/9

*RES 2: $1.9861 - 61.8% retracement of the May 16-Jun 5 decline

*RES 1: $1.9561 - Intraday high

*PRICE: $1.9552 @ 07:35 BST Jun 26

*SUP 1: $1.8757 - Jun 21 low

*SUP 2: $1.8426 - High Jun 10 and last weeks bullish breakout point

*SUP 3: $1.7802 - Jun 18 low

*SUP 4: $1.7717 - Low Jun 12

HO has resumed the uptrend and further gains are anticipated. This follows last

week's break of former resistance at the June 6 high of $1.8426, confirming the

return of a bullish theme. The bullish outlook remains intact with momentum

indicators also in agreement. Attention is now on $1.93861, the 61.8%

retracement of the May 16-Jun 5 decline. The 76.4% level intersects at 2.0442.

Initial key support lies at $1.8426 with interim support at 1.8757.