NYMEX HO (Q19): Under pressure *RES 4:....>

OIL TECHS: NYMEX HO (Q19): Under pressure

*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: $1.9241 - Former trendline support drawn off the Jun 18 low

*PRICE: $1.9026 @ 06:41 BST Jul 17

*SUP 1: $1.8917 - Low Jul 16

*SUP 2: $1.8783 - Bull channel base drawn off the Jun 5 low

*SUP 3: $1.8694 - Low Jul 5

*SUP 4: $1.8503 - 61.8% retracement of the rally between Jun 5-Jul 11

HO sold off sharply yesterday resulting in a break of 1.9172, trendline support

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 Jul 5 low. Note too

that the recent sell-off follows a failed attempt to convincingly clear the

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

commodity. Resistance is at 1.9241, the former trendline support.