NYMEX HO (V19): Moving sideways *RES 4:...>

OIL TECHS: NYMEX HO (V19): Moving sideways

*RES 4: $2.1513 - 1.618 projection of Sep 3 - Sep rally from Sep 12 low

*RES 3: $2.0999 - High Sep 17

*RES 2: $2.0462 - 61.8% retracement of Sep 17 - Sep 18 decline

*RES 1: $2.0267 - High Sep 19

*PRICE: $1.9910 @ 06:42 BST Sep 24

*SUP 1: $1.9594 - Low Sep 18

*SUP 2: $1.9529 - High Sep 11

*SUP 3: $1.9247 - Trendline support drawn off the Sep 3 low

*SUP 4: $1.9168 - High Sep 12

HO is unchanged and remains within its recently established range. The contract

maintains a near-term bearish outlook though and is expected to continue

unwinding the risk related spike on Sep 16. $1.9624, Sep 10 high was breached on

Sep 18, filling an initial gap in the chart. A deeper sell-off would open

$1.8910, Sep 13 high to fill the entire gap in the chart left by the price spike

on Sep 16. On the upside, initial resistance is at $2.0267, Sep 19 high.