NYMEX HO (Q19): Bulls dominate *RES 4:....>

OIL TECHS: NYMEX HO (Q19): Bulls dominate

*RES 4: $2.0470 - 76.4% of the May 16-Jun 5 decline

*RES 3: $2.0396 - Bull channel top drawn off the Jun 5 low

*RES 2: $2.0250 - High May 28

*RES 1: $2.0181 - High Jul 11

*PRICE: $1.9677 @ 06:37 BST Jul 15

*SUP 1: $1.9641 - Intraday low

*SUP 2: $1.9500 - Round number support

*SUP 3: $1.9143/04 - Low Jul 10 / Trendline drawn off the Jun 18 low

*SUP 4: $1.8870 - Low Jul 9

HO resumed its bull trend last week with the break of resistance at $1.9897. The

move higher also confirms a breach of the 61.8% retracement of the May 16-Jun 5

decline at $1.9896. With momentum studies maintaining a bullish position, the

focus now shifts to the high of May 28 at $2.0250 and the 76.4% retracement of

the May 16-Jun 5 decline at 2.0470. On the downside, support has been defined at

last Wednesday's low of $1.9143.