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NYMEX HO (V19): Trendline cleared *RES....>

OIL TECHS
OIL TECHS: NYMEX HO (V19): Trendline cleared
*RES 4: $2.0000 - Round number resistance
*RES 3: $1.9813 - High Jul 31
*RES 2: $1.9648 - High Aug 1
*RES 1: $1.9206 - High Sep 5
*PRICE: $1.9141 @ 06:40 BST Sep 9
*SUP 1: $1.8444 - Low Sep 6 and initial key support
*SUP 2: $1.8006 - Low Sep 4
*SUP 3: $1.7770 - Low Aug 3
*SUP 4: $1.7515 - Low Aug 7 and bear trigger
HO bulls seem to gaining the upper hand following swings in price action late
last week. Trendline trendline resistance drawn off the May 16 high has been
breached and attention turns to initial resistance at $1.9206, the high of Sep
5. A break would cement a bullish tone and pave the way for strength towards
$1.9648 and 1.9813, the highs of Aug 1 and Jul 31 respectively. On the downside,
initial support has been defined at $1.8444.

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