NYMEX HO (N19): Upside likely with........>

OIL TECHS: NYMEX HO (N19): Upside likely with bulls in charge

*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: $1.9339/92 - High Jun 24 and 50% retracement of the May 16-Jun 5 decline

*PRICE: $1.9012 @ 08:21 BST Jun 25

*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 last week cleared former resistance at the June 6 high of $1.8426 confirming

the return of a bullish theme. The positive tone remains intact with momentum

indicators in agreement. Further price gains are favoured with the next

objective at $1.9392, the 50% retracement of the May 16-Jun 5 low. Clearance of

the 50% retracement handle would open 1.9861, the 61.8% level. Initial key

support lies at $1.8426.