NYMEX HO (V19): Consolidating *RES 4:.....>

OIL TECHS: NYMEX HO (V19): Consolidating

*RES 4: $2.1409 - 2.618 projection of Aug 7 - Aug 13 high from Sep 3 low

*RES 3: $2.0999 - High Sep 17

*RES 2: $2.0267 - High Sep 19

*RES 1: $1.9950 - High Sep 24

*PRICE: $1.9434 @ 08:10 BST Sep 27

*SUP 1: $1.9224 - Low Sep 25

*SUP 2: $1.9168 - High Sep 12

*SUP 3: $1.8910 - High Sep 13 and gap low

*SUP 4: $1.8513 - Low Sep 12

HO remains bearish although some consolidation has set in for now. The recent

move lower is expected to extend and eventually complete the process of filling

the gap in the chart 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 is bearish.