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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.

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