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NYMEX HO (N20): Holds Above Trendline.....>

OIL TECHS
OIL TECHS: NYMEX HO (N20): Holds Above Trendline Support
*RES 4: $1.1884 - High Apr 2 and key resistance
*RES 3: $1.1535 - High Apr 9
*RES 2: $1.1000 - Round number resistance
*RES 1: $1.0712 - High May 26
*PRICE: $1.0483 @ 07:34 GMT Jun 1
*SUP 1: $0.9630 - Trendline support drawn off the Apr 28 low
*SUP 2: $0.9556 - Low May 18
*SUP 3: $0.9307 - Low May 15
*SUP 4: $0.9000 - Round number support
HO remains bullish and continues to hold above trendline support at 0.9630 drawn
off the Apr 28 low. The recovery off $0.7439, Apr 28 low resulted in a break of
resistance at $0.9127, Apr 23 high. Furthermore, futures managed to clear the
20-day EMA and the former resistance at $0.9590, May 6 high reinforcing the
bullish cycle. The contract is also testing the 50-day EMA currently at $1.0431.
A clear break would open 1.1000 and 1.1535. The latter is the Apr 9 high.

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