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NYMEX HO: (U18) Resistance Giving Way.....>

OIL TECHS
OIL TECHS: NYMEX HO: (U18) Resistance Giving Way
*RES 4: $2.2970 - High May 22
*RES 3: $2.2387 - High July 10
*RES 2: $2.1953 - Daily bear channel top 
*RES 1: $2.1855 - High July 26 
*PRICE: $2.1816 @ 04:06 GMT 
*SUP 1: $2.1416 - High Aug 21 
*SUP 2: $2.0760 - Low Aug 15 
*SUP 3: $2.0490 - Low July 18 
*SUP 4: $2.0423 - 200-DMA 
A cluster of lateral resistance levels are under attack at look to be giving way
as Heating Oil continues its recovery off its strong base formed over the past
two months. A bull flag formation appears set to be triggered which would bring
the July 10 highs and May 22 highs into focus. Bears need a close back below
Tuesday's intraday high of $2.1416 to take the pressure off, and a close below
the Aug 15 low to return the focus lower.

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