NYMEX HO (V19): Pushing against...........>

OIL TECHS: NYMEX HO (V19): Pushing against resistance

*RES 4: $1.9193 - High Aug 2

*RES 3: $1.9107 - Trendline resistance drawn off the May 16 high

*RES 2: $1.8905 - High Aug 13

*RES 1: $1.8836/71 - 50-day EMA / Aug 21 high

*PRICE: $1.8660 @ 07:40 BST Aug 30

*SUP 1: $1.8320 - Low Aug 28

*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 is holding onto this weeks gains trading just ahead of a key band of

resistance between $1.8836 - $1.8905 highlighted by the 50-day EMA and the Aug

13/21 highs. Clearance of this zone would remove any existing bearish threats

and open the $1.9107 trendline resistance, drawn off the May 16 high. A move

above the trendline would in turn reinforce a bullish theme. On the downside,

sub $1.7973 levels are required to refocus attention on the downside again.