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NYMEX HO (Q19): Bears in control *RES 4:........>

OIL
OIL: NYMEX HO (Q19): Bears in control
*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: $1.9340 - Former trendline support drawn off the Jun 18 low
*PRICE: $1.8865 @ 06:46 BST Jul 19
*SUP 1: $1.8526.03 - Low Jul 18 / 61.8% of the rally between Jun 5-Jul 11
*SUP 2: $1.8485 - High Jun 10
*SUP 3: $1.8239 - Low Jun 19
*SUP 4: $1.8106 - 76.4% of the rally between Jun 5-Jul 11
HO sold off sharply this week resulting in a break of trendline support at
$1.9172, drawn off the Jun 18 low. This reversed the bullish developments that
followed last weeks gains. Former support at 1.8694, the low of Jul 5 was
breached yesterday. Attention is now on the 61.8% retracement of the Jun 5-Jul
11 decline at $1.8503. Clearance of this level would open $1.8106, the 76.4%
retracement. Resistance is at $1.9340, the former trendline support.

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