NYMEX HO: (X18) $2.30 Still Under.........>

OIL TECHS: NYMEX HO: (X18) $2.30 Still Under Pressure 

*RES 4: $2.6000 - Resistance 

*RES 3: $2.5500 - Channel top 

*RES 2: $2.4496 - High Oct 3 

*RES 1: $2.3590 - Low Oct 8, now resistance 

*PRICE: $2.3049 @ 05:43 GMT 

*SUP 1: $2.3000 - Support 

*SUP 2: $2.1974 - Low Sep 18 

*SUP 3: $2.1813 - High Aug 14 now support 

*SUP 4: $2.1237 - 200-dma 

Heating oil futures closed at the $2.30 level yesterday after several

unsuccessful attempts, and while this level has been clawed back for now,

downside momentum is building. The next level of support comes in at the Sep 18

low at $2.1974, below which the bigger picture outlook turns negative. A hold of

$2.30 is needed to put the focus on the Oct 8 low at $2.3590 now acting as

resistance, and a break above here opens the Oct 3 peak.