NYMEX HO (V19): Still consolidating.......>

OIL TECHS: NYMEX HO (V19): Still consolidating

*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: $2.0034 @ 06:31 BST Sep 23

*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 remains within its recently established range. The contract maintains a

near-term bearish outlook and is expected to continue unwinding last Monday's

risk related spike. $1.9624, Sep 10 high was breached 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.