NYMEX HO (Q19): Bears still seen..........>

OIL TECHS: NYMEX HO (Q19): Bears still seen dominating

*RES 4: $2.0181 - High Jul 11 and key resistance

*RES 3: $1.9889 - High Jul 12

*RES 2: $1.9737 - High Jul 16

*RES 1: $1.9471 - High Jul 24

*PRICE: $1.9177 @ 06:40 BST Jul 30

*SUP 1: $1.8857 - Low Jul 23

*SUP 2: $1.8526/03 - Low Jul 18 / 61.8% of the rally between Jun 5-Jul 11

*SUP 3: $1.8485 - High Jun 10

*SUP 4: $1.8239 - Low Jun 19

HO consolidates, however it maintains a bearish tone following the sharp

sell-off between Jul 11-18. This resulted in a break of trendline support at

1.9172 on Jul 16. The trendline is drawn off the Jun 18 low. The break reversed

the uptrend that had been in place since the June 5 low and also led to a breach

of support at 1.8694, the Jul 5 low. Attention is on 61.8% of Jun 5-Jul 11

sell-off, at 1.8503. Clearance here would open 1.8106. Resistance is at 1.9471.