NYMEX HO (V19): Key resistance band.......>

OIL TECHS: NYMEX HO (V19): Key resistance band intact

*RES 4: $1.9193 - High Aug 2

*RES 3: $1.9076 - Trendline resistance drawn off the May 16 high

*RES 2: $1.8905 - High Aug 13

*RES 1: $1.8817/1.8871 - 50-day EMA / Aug 21 high

*PRICE: $1.8354 @ 07:18 BST Sep 2

*SUP 1: $1.8163 - Low Aug 30

*SUP 2: $1.7973 - Low Aug 26

*SUP 3: $1.7515 - Low Aug 7

*SUP 4: $1.7232 - 1.618 projection of Jul 11 - Jul 18 decline from Jul 31 high

HO failed to hold onto last weeks gains Friday, leaving the band of resistance

between $1.8817 - $1.8905 highlighted by the 50-day EMA and the Aug 13/21 highs

intact. Clearance here would remove any existing bearish threats and open the

$1.9076 trendline resistance, drawn off the May 16 high. A move above the

trendline would reinforce a bullish theme. On the downside, sub $1.7973 levels

would refocus attention on the downside once again and expose $1.7515.