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NYMEX HO (N20): Holds Onto Gains *RES.....>

OIL TECHS
OIL TECHS: NYMEX HO (N20): Holds Onto Gains
*RES 4: $1.2766 - High Mar12
*RES 3: $1.2505 - 38.2% retracement of the Jan - Apr Sell-off
*RES 2: $1.2000 - Round number resistance
*RES 1: $1.1824 - High Jun 8 and the bull trigger
*PRICE: $1.1398 @ 07:17 GMT Jun 11
*SUP 1: $1.1040 - Low Jun 9
*SUP 2: $1.0392 - Trendline support drawn off the Apr 28 low
*SUP 3: $1.0084 - Low Jun 1
*SUP 4: $0.9562 - Low May 29 and key support
HO is unchanged and remains bullish following last week's gains above $1.0712,
May 26 high. The break confirmed a resumption of the uptrend that has been in
place since the Apr 28 low of $0.7439. Attention is on $1.1884, Apr 2 high and
the key resistance. A move above this level would open $125.05, a Fibonacci
retracement. On the downside, key support has been defined at $0.9562, May 29
low. Note, trendline support drawn off the Apr 28 low intersects at $1.0392.

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