NYMEX HO (X19): Bearish Pressure..........>

OIL TECHS: NYMEX HO (X19): Bearish Pressure Remains

*RES 4: $2.0223 - High Sep 19

*RES 3: $1.9911 - High Sep 24

*RES 2: $1.9608 - High Sep 27 and key resistance

*RES 1: $1.9223 - High Oct 1

*PRICE: $1.8646 @ 07:33 BST Oct 3

*SUP 1: $1.8587 - Low Oct 2

*SUP 2: $1.8515 - Low Sep 12

*SUP 3: $1.8460 - Low Sep 6

*SUP 4: $1.8037 - Low Sep 4

HO remains bearish and did trade lower again yesterday, this time to a low of

$1.8587. The current bearish outlook remains intact with the path of least

resistance still down. The focus shifts to the Sep 12 low of $1.8515 where a

break would open up scope for a sell-off towards the Sep-3 low of $1.7806.

Initial key resistance has been defined at $1.9608, Sep 27 high. A break above

this level is required to threaten the current bearish theme.