NYMEX HO (Q19): Bull in charge once.......>

OIL TECHS: NYMEX HO (Q19): Bull in charge once again

*RES 4: $2.0785 - High May 22

*RES 3: $2.0470 - 76.4% of the May 16-Jun 5 decline

*RES 2: $2.0250 - High May 28

*RES 1: $2.0069 - Intraday high

*PRICE: $2.0012 @ 07:13 BST Jul 11

*SUP 1: $1.9400 - Round number support

*SUP 2: $1.9143 - Low Jul 10

*SUP 3: $1.8967 - Trendline support drawn off the Jun 18 low

*SUP 4: $1.8870 - Low Jul 9

HO resumes its bull trend with the break of firmer resistance at $1.9897

confirming a resumption of the uptrend. Note that this also confirms a break of

the 61.8% retracement of the May 16-Jun 5 decline at $1.9896. With momentum

studies also resuming their bullish position, the focus now shifts to the high

of May 28 at $2.0250 and the 76.4% retracement level at 2.0470. On the downside,

support has been defined at yesterday's low of $1.9143.