NYMEX HO (Q19): Bears holding on *RES...>

NATURAL GAS: NYMEX HO (Q19): Bears holding on

*RES 4: $2.0181 - High Jul 11 and bull trigger

*RES 3: $1.9889 - High Jul 12

*RES 2: $1.9737 - High Jul 16

*RES 1: $1.9309 - Former trendline support drawn off the Jun 18 low

*PRICE: $1.8995 @ 06:39 BST Jul 18

*SUP 1: $1.8828 - Bull channel base drawn off the Jun 5 low

*SUP 2: $1.8694 - Low Jul 5

*SUP 3: $1.8503 - 61.8% retracement of the rally between Jun 5-Jul 11

*SUP 4: $1.8485 - High Jun 10

HO sold off sharply this week resulting in a break of trendline support at

$1.9172, drawn off the Jun 18 low. This reverses the bullish developments

following last week's gains and attention turns to support at 1.8694, the low of

Jul 5. The recent sell-off follows a failed attempt to clear convincingly the

61.8% retracement of the May 16-Jun 5 decline at $1.9896. This is weighing on

the commodity. Resistance is at $1.9309, the former trendline support.