NYMEX HO (V19): Approaching trendline.....>

OIL TECHS: NYMEX HO (V19): Approaching trendline support

*RES 4: $2.0999 - High Sep 17

*RES 3: $2.0462 - 61.8% retracement of Sep 17 - Sep 18 decline

*RES 2: $2.0267 - High Sep 19

*RES 1: $1.9950 - High Sep 24

*PRICE: $1.9567 @ 06:42 BST Sep 25

*SUP 1: $1.9500 - Low Sep 24

*SUP 2: $1.9458 - Trendline support drawn off the Sep 3 low

*SUP 3: $1.9168 - High Sep 12

*SUP 4: $1.8910 - High Sep 13 and gap low

HO traded lower yday breaking through the 1.9594 low Sep 18 low. This is an

extension of the current pull-back with the contract gradually filling the chart

gap created by the risk related spike on Sep 16. The focus is on 1.8910, Sep 13

high. A print of this level would fill the gap. Resistance has been defined at

2.0267, Sep 19 high. While this level remains intact, the near-term outlook

remains bearish. Trendline support at 1.9458 is the next hurdle for bears.