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NYMEX HO: (Z18) 200-DMA Giving Way ......>

OIL TECHS
OIL TECHS: NYMEX HO: (Z18) 200-DMA Giving Way  
*RES 4: $2.5500 - Channel top 
*RES 3: $2.4534 - High Oct 3 
*RES 2: $2.3627 - Low Oct 8, now resistance 
*RES 1: $2.2781 - 55-dma 
*PRICE: $2.1470 @ 05:34 GMT 
*SUP 1: $2.1423 - 200-dma 
*SUP 2: $2.0871 - Low Aug 15 
*SUP 3: $2.0719 - Low Jul 18 
*SUP 4: $1.9561 - Low Jul Apr 6 
Heating oil futures managed to remain above their 200-dma on a closing basis
again yesterday but the the level is under pressure once again today and looks
set to give way. Below here would suggest a return tot he Aug 15 low at $2.0871.
Bulls focus on resistance at the 55-dma at $2.2781. A break above here would
shift the focus back to the upside, re-establishing the bullish trend and
targeting the Oct 3 high at $2.4534. 

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