NYMEX HO (N20): Uptrend Still Intact......>

OIL TECHS: NYMEX HO (N20): Uptrend Still Intact

*RES 4: $1.1824 - 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: $1.0236 @ 07:09 GMT May 27

*SUP 1: $0.9750 - Low May 22

*SUP 2: $0.9590 - High May 6 and former breakout level

*SUP 3: $0.9344 - Trendline support drawn off the Apr 28 low

*SUP 4: $0.8677 - May 14 low

HO is consolidating but maintains a bullish outlook. 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 $1.0476. A clear break would open 1.1000 and

1.1535. The latter is the Apr 9 high. Key S/T support is at 0.9750, May 22 low.