NYMEX HO: (V18) Dips Being Bought *RES....>

OIL TECHS: NYMEX HO: (V18) Dips Being Bought

*RES 4: $2.6000 - Resistance 

*RES 3: $2.5000 - Resistance 

*RES 2: $2.4000 - Measured move from bull flag breakout 

*RES 1: $2.3089 - High Sep 4 

*PRICE: $2.2466 @ 05:20 GMT 

*SUP 1: $2.1908 - Low Sep 7 

*SUP 2: $2.1817 - High Aug 14 now support 

*SUP 3: $2.0823 - Low Aug 15 

*SUP 4: $2.0768 - 200-DMA 

Despite a brief dip below $2.22 yesterday Oct-18 Nymex Heating Oil futures

managed to close strong to keep the focus on the Sep 4 high at $2.3089. A

short-term pennant formation suggests further upside and a continuation of the

larger bullish trend. Bears need to close back below the Sep 7 low at $2.1908 to

shift the outlook back to neutral, allowing them to target Aug 14 support at

$2.1817.