NYMEX HO (X19): Close To Filling The......>

OIL TECHS: NYMEX HO (X19): Close To Filling The Gap

*RES 4: $2.0935 - High sep and key resistance

*RES 3: $2.0223 - High Sep 19

*RES 2: $1.9911 - High Sep 24

*RES 1: $1.9608 - High Sep 27

*PRICE: $1.9347 @ 07:32 BST Sep 30

*SUP 1: $1.9108 - Low Sep 27

*SUP 2: $1.8898 - High Sep 13 and gap low

*SUP 3: $1.8515 - Low Sep 12

*SUP 4: $1.8460 - Low Sep 6

HO remains bearish and did trade lower Friday. The sell-off over the past two

weeks is expected to extend and eventually complete the process of filling the

gap in the chart created by the risk related spike on Sep 16. The focus is on

$1.8898, Sep 13 high. A print of this level would result in the gap being

filled. Initial resistance has been defined at $1.9608, Sep 27 high however a

break above $2.0223, Sep 19 high is required to reinstate a bullish theme.