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NYMEX HO (Q20): Bullish Above Trendline...>

OIL TECHS: NYMEX HO (Q20): Bullish Above Trendline Support
*RES 4: $1.4000 - Round number resistance
*RES 3: $1.3344 - High Mar 11 and gap low on the daily chart
*RES 2: $1.3000 - Round number resistance
*RES 1: $1.2910 - High Jul 21
*PRICE: $1.2773 @ 07:00 GMT Jul 23
*SUP 1: $1.2367 - Trendline support drawn off the Apr 28 low
*SUP 2: $1.1994 - Low Jul 10 and key near-term support
*SUP 3: $1.1797 - 50-day EMA
*SUP 4: $1.1296 - Low Jun 29
HO futures traded to fresh trend high Tuesday clearing the former key resistance
at 1.2583, Jul 6 high. This confirmed a resumption of the underlying uptrend and
paves the way for a climb towards the $1.3000 handle next and $1.3344, high Mar
11 and a gap low on the daily chart. Price action has remained above trendline
support drawn off the Apr 28 low. The line intersects at $1.2367 today. A
trendline break is required to signal a reversal.

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